Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly lower in the middle of Monday trading amidst mixed sentiment in comparable oils.
Chicago soyoil and Malaysian palm oil were up, while European rapeseed traded to either side of unchanged. Crude oil prices were down slightly.
An analyst said a lack of export demand is dragging down canola prices. Unless there is a threat to the soon-to-be-harvested Brazilian soybean crop, canola will remain rangebound over the coming weeks.
The Canadian dollar was up nearly one-tenth of a United States cent compared to Friday’s close. On Sunday, the U.S. Senate passed a motion to provide funding for the government. However, the legislation still needs House approval.
Read Also
ICE Canada Morning Comment: Canola steps back
By Glen Hallick Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were lower on Monday morning, correcting from Friday’s…
Markets will be closed on Tuesday for Remembrance Day in Canada and Veterans Day in the U.S.
About 14,000 canola contracts have traded at 10:15 CST. Prices in Canadian dollars per metric tonne:
Price Change
Jan 638.20 dn 1.80
Mar 650.00 dn 1.80
May 660.40 dn 1.90
Jul 667.70 dn 2.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
