By Glen Hallick, MarketsFarm
WINNIPEG, Jan. 25 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were seeing gains Monday morning, following large losses on Friday.
Reports stated the markets were sent tumbling on Friday in part due to the outbreak a new strain of African swine fever in China.
Presently the Chicago soy complex has turned higher with sharp increases in soyoil. Losses in European rapeseed and Malaysian palm oil were weighing on values.
The Canadian dollar was virtually unchanged at 78.65 U.S. cents, compared to Friday’s close of 78.64.
About 9,300 canola contracts had traded as of 8:47 CST.
Prices in Canadian dollars per metric tonne at 8:47 CST:
Price Change
Canola Mar 659.90 up 10.30
May 643.30 up 7.50
Jul 628.00 up 4.40
Nov 547.50 up 2.10
