Glacier FarmMedia — ICE Futures canola contracts were posting solid gains at midday Monday, finding spillover support from strength in the Chicago soy complex.
- European rapeseed was sharply higher on the day as well, although Malaysian palm oil held closer to unchanged.
- Bullish chart signals contributed to the gains in canola, with the March contract extending its move above C$600 per tonne after briefly testing that support level on Friday.
- Canada exported 121,000 tonnes of canola during the week ended Dec. 28, which was up by 26 per cent from the previous week, reported the Canadian Grain Commission. Crop-year-to-date canola exports of 2.66 million tonnes compare with 4.53 million tonnes by the same time the previous year.
- Large supplies and a lack of export demand from China continued to overhang the canola market.
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Glacier FarmMedia — The ICE Futures canola market was mostly higher at Tuesday’s close, as speculative short covering and end-user…
- An estimated 23,500 canola contracts traded as of 10:28 CST.
Prices in Canadian dollars per metric tonne at 10:28 CST:
Canola Mar 611.70 up 7.80
May 622.40 up 8.00
Jul 630.50 up 7.30
Nov 632.90 up 4.90
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