ICE canola starts the week lower

By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 23 (MarketsFarm) – The ICE Futures canola market was weaker on Monday, as prices appeared to be in a consolidation pattern.
Further losses for canola were tempered by a stronger tone for soybeans on the Chicago Board of Trade. Soybeans were supported by speculation of drought conditions affecting crops in Brazil and Argentina.
The Canadian dollar was steady, not providing much direction to canola values. The dollar was around 76 U.S. cents on Monday morning.
About 8,600 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Price Change
Canola Jan 466.90 dn 1.40
Mar 476.10 dn 1.20
May 485.50 dn 1.50
Jul 492.50 dn 1.50

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