By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 14 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were stronger on Monday morning.
In the most recent production estimates from Statistics Canada, canola production was revised slightly downward to total 19.393 million tonnes. In August, canola production was estimated at 19.403 million tonnes.
Strength in comparable vegetable oils supported gains for canola in early morning trade. Nearby soyoil contracts were up by about half a cent.
The loonie also gained strength this morning, at around 75.9 United States cents, which limited the upside for canola.
About 6,000 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric ton at 8:45 CDT:
Price Change
Canola Nov 518.70 up 1.30
Jan 525.90 up 1.00
Mar 531.70 up 1.10
May 532.70 up 1.40
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