By Glen Hallick, MarketsFarm
WINNIPEG, April 6 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher Monday morning, getting spillover from stronger Chicago soyoil.
However, soymeal incurred large declines while soybeans were steady to lower.
There was also downward pressure from Malaysian palm oil, but gains in European rapeseed provided support.
The COVID-19 pandemic remains an overriding factor in all of the markets.
The Canadian dollar was slightly lower this morning at 70.56 U.S. cents, compared to Friday’s close of 70.71.
About 2,000 canola contracts had traded as of 8:46 CDT.
Prices in Canadian dollars per metric ton at 8:46 CDT:
Price Change
Canola May 463.60 up 2.20
Jul 472.00 up 2.10
Nov 480.20 up 2.10
Jan 486.40 up 2.30
