Glacier FarmMedia — ICE canola futures were stronger Monday morning, taking back most of Friday’s losses to start the week.
The January contract was trading just below two-month highs, facing resistance around C$655 per tonne.
Gains in the Chicago soy complex provided spillover support, with talk of increased Chinese purchases of soybeans from the United States behind some of the support there.
Malaysian palm oil was also higher in overnight activity, while European rapeseed was narrowly mixed.
Canadian canola exports continue to lag the year ago pace, with China absent from the market.
Read Also
North American Grain and Oilseed Review:Sharp drops for canola
By Glen Hallick, MarketsFarm Glacier FarmMedia MarketsFarm – Intercontinental Exchange canola futures finished weaker on Friday, pulled down by losses…
About 11,000 canola contracts had traded as of 8:44 CST.
Prices in Canadian dollars per metric tonne at 8:44 CST:
Canola Jan 652.50 up 5.00
Mar 664.00 up 5.40
May 672.50 up 5.30
Jul 677.90 up 5.90
Access the latest futures prices at https://www.producer.com/markets-futures-prices/
