By Phil Franz-Warkentin
Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was stronger Monday morning, seeing a modest correction off nearby lows to start the week.
Ideas that the canola market was looking oversold after last week’s sharp declines contributed to the gains, with advances in Chicago soyoil providing spillover support. European rapeseed and Malaysian palm oil were narrowly mixed.
End-user bargain hunting and a lack of significant farmer selling pressure contributed to the gains. However, the January contract ran into resistance at C$600 per tonne.
Read Also
North American Grain/Oilseed Review: Canola tumbles, grains rise
Canola futures on the Intercontinental Exchange were still reeling on Friday following the release of Statistics Canada’s bearish canola production…
About 10,200 canola contracts had traded as of 8:41 CST.
import { defineSlot, displaySlot, enableServices } from ‘https://www.agcanada.com/wp-content/plugins/gfm-ad-network/assets/js/gpt/gfm-gpt-ad-helpers.js’;
const adUnitPath = ‘/76643716/agcanada/’;
const slotType = ‘mediumRectangle’;
const slot = getGfmAdNetworkSlot( slotType );
const elementId = ‘gfm-agc-mediumRectangle-5’;
if ( slot ) {
const targeting = [];
defineSlot( slot, adUnitPath, elementId, targeting );
enableServices();
displaySlot( elementId );
} else {
const element = document.getElementById(elementId);
element.style.display = ‘none’;
throw new Error( `Cannot find ${slotType}` );
}
Prices in Canadian dollars per metric ton at 8:41 CST:
Canola Jan 599.60 up 7.40
Mar 612.60 up 7.10
import { defineSlot, displaySlot, enableServices } from ‘https://www.agcanada.com/wp-content/plugins/gfm-ad-network/assets/js/gpt/gfm-gpt-ad-helpers.js’;
const adUnitPath = ‘/76643716/agcanada/’;
const slotType = ‘mediumRectangle’;
const slot = getGfmAdNetworkSlot( slotType );
const elementId = ‘gfm-agc-mediumRectangle-11’;
if ( slot ) {
const targeting = [];
defineSlot( slot, adUnitPath, elementId, targeting );
enableServices();
displaySlot( elementId );
} else {
const element = document.getElementById(elementId);
element.style.display = ‘none’;
throw new Error( `Cannot find ${slotType}` );
}
May 620.40 up 5.90
Jul 622.50 up 4.40
