ICE canola steady Monday

By Marlo Glass, MarketsFarm
WINNIPEG, July 29 (MarketsFarm) – The ICE Futures canola market was mostly unchanged on Monday morning, following trends set during overnight trading as prices stayed largely in a consolidation pattern.
Improved weather forecasts across the Prairies have boosted crop conditions recently, which weighed on canola values.
The Canadian dollar was around 76 U.S. cents on Monday morning, which also capped values.
A slightly stronger tone for soybeans on the Chicago Board of Trade was supportive for canola, as reports speculate soybean acreage may be smaller than originally estimated.
About 1,700 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola Nov 449.80 dn 0.70
Jan 457.40 dn 0.60
Mar 464.60 dn 0.70
May 470.50 dn 0.10

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