Glacier FarmMedia MarketsFarm – The ICE Futures canola market maintained its strength coming out of the long weekend, supported by vegetable oils and a slightly weaker Canadian dollar. There was no trading on Monday due to Louis Riel Day in Manitoba.
Chicago soyoil and Malaysian palm oil were up while European rapeseed was mostly higher. However, crude oil was down, which tempered canola’s gains. There was no trading in the United States on Monday due to the Presidents Day holiday.
The Canadian dollar was one-tenth of a United States cent lower compared to Friday’s close.
Nearly 22,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CST:
Mar. 590.80 up 13.40
May 601.40 up 13.70
Jul. 609.90 up 12.50
Nov. 615.40 up 11.40
