Glacier FarmMedia MarketsFarm – The ICE Futures canola market fell sharply to begin June despite mixed sentiment in comparable oils.
European rapeseed was higher to start the day, while Chicago soyoil was lower. Crude oil was also down after OPEC+ members decided on Sunday to extend production cuts into next year. The Malaysian palm oil market was closed on Monday.
The Canadian dollar was up less than one-tenth of a United States cent compared to Friday’s close.
Roughly 11,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:47 CDT:
Jul. 649.80 dn 11.20
Nov. 672.30 dn 10.90
Jan. 680.10 dn 10.10
Mar. 689.60 dn 7.00
