Glacier FarmMedia – Canola futures on the Intercontinental Exchange were continuing to rebound in the middle of Monday trading after three weeks of steady declines.
An analyst said canola’s sudden upswing may be the result of lighter trading heading into the holiday season.
Chicago soyoil, European rapeseed and Malaysian palm oil were higher today.
Crude oil gained more than US$1 per barrel. The White House announced the seizure of a Venezuelan oil tanker on the weekend and was also pursuing another, which raised crude oil prices as well as supporting those for vegetable oils.
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Glacier FarmMedia – Canola futures on the Intercontinental Exchange finally found strength on Monday after a lengthy downturn that lasted…
The Canadian dollar added three-tenths of a U.S. cent compared to Friday’s close, limiting canola’s rise.
About 38,300 canola contracts have traded at 10:14 CST. Prices in Canadian dollars per metric tonne:
Price Change
Jan 595.10 up 13.50
Mar 606.40 up 13.00
May 617.70 up 12.40
Jul 627.00 up 12.90
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