By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were higher on Monday morning, getting support from gains in most comparable oils.
There were increases in Chicago soybeans and soyoil, while soymeal edged lower. Malaysian palm oil was higher but European rapeseed was mixed. As crude oil advanced, its spillover underpinned the vegetable oils.
Statistics Canada is set to release its grain stocks as of July 31 report on Tuesday, followed by its production update on Sept. 17.
The Canola Council of Canada criticized the C$370 million the federal government targeted to canola producers and domestic biofuel production. Chris Davidson, the council’s president, said the canola industry isn’t looking for subsidies rather it wants something done about China’s steep tariffs on Canadian canola and its products.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were attempting to push higher on Tuesday morning,…
Alberta reported its overall provincewide harvest was 22 per cent complete with its canola at three per cent finished.
Prairie temperatures over the next few days are to push towards the mid 20 degrees Celsius with no rain in the immediate forecast.
The Canadian dollar was higher on Monday morning, with the loonie at 72.50 U.S. cents compared to Friday’s close of 72.31.
Approximately 8,450 contracts were traded by 8:37 CDT and prices in Canadian dollars per metric tonne were:
Price Change Canola Nov 622.40 up 5.60 Jan 633.90 up 5.70 Mar 644.80 up 5.60 May 654.60 up 5.70
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
