ICE canola starts week in the red

By Marlo Glass, MarketsFarm
WINNIPEG, Feb. 10 (MarketsFarm) – The ICE Futures canola market was lower on Monday, pressured by weakness in prices for comparable vegetable oils.
A lower tone for soyoil on the Chicago Board of Trade kept a lid on canola values this morning. South America’s crop conditions have improved, and the region is expecting record production levels.
The Canadian dollar was slightly weaker this morning, which provided some support to canola. The dollar was around 75.1 U.S. cents on Monday morning.
About 5,800 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Price Change
Canola Mar 458.70 dn 2.30
May 468.20 dn 2.40
Jul 475.40 dn 2.10
Nov 482.70 dn 1.20

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