By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 4 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher Monday morning, getting support from gains in Chicago soyoil and Malaysian palm oil.
Ongoing tight supplies and uncertainty over the size of this year’s harvest underpinned canola values as well.
Pressure came from losses in Chicago soybeans and soymeal as well as the front months of European rapeseed.
The Canadian dollar was higher this morning, which provided more pressure. The loonie was at 79.42 U.S. cents, compared to Friday’s close of 79.03.
About 4,800 canola contracts had traded as of 8:39 CDT.
Prices in Canadian dollars per metric tonne at 8:39 CDT:
Price Change
Canola Nov 913.00 up 9.90
Jan 897.40 up 9.00
Mar 880.80 up 8.00
May 854.00 up 7.50
