By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were stronger on Monday morning, turning around following a week of declines.
The most-traded March contract pushed above the psychological level of C$600 per tonne but remained well back of its major moving averages.
Support for canola came from upswings in the Chicago soy complex, MATIF rapeseed and Malaysian palm oil.
However, lacklustre exports and the absence of China from that market continued to hover in the background.
The Canadian dollar was higher on Monday morning, with the loonie at 72.74 U.S. cents, compared to Friday’s close of 72.56.
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Glacier FarmMedia – Canola futures on the Intercontinental Exchange were continuing to rebound in the middle of Monday trading after…
Approximately 22,000 contracts had traded by 8:58 CST and prices in Canadian dollars per metric tonne were:
Price Change
Canola Jan 593.40 up 11.80
Mar 605.00 up 11.60
May 616.30 up 11.00
Jul 624.90 up 10.80
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