WINNIPEG – The ICE Futures canola market was lower to start the week, despite very little direction in crude and vegetable oils.
One expert said that the overall weakness in canola prices is likely due to lower trade numbers as markets wind down before the holiday season.
Chicago soyoil was fractionally higher and Malaysian palm oil was also higher, while European rapeseed was mostly lower. Crude oil was treading in positive territory, affected by higher interest rates in central banks and the easing of COVID-19 restrictions in China.
The Canadian dollar gained less than one-tenth of a United States cent from Friday’s close.
Nearly 13,820 canola contracts were traded as of 10:21 CST.
Price Change
Canola Jan 847.50 dn 15.80
Mar 843.30 dn 13.70
May 840.90 dn 11.30
Jul 837.50 dn 8.90
