ICE canola weaker Monday

By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 19 (MarketsFarm) – The ICE Futures canola market was mostly lower on Monday morning, following trends set in overnight trade.
Malaysian palm oil, European rapeseed, and the soy complex on the Chicago Board of trade were all lower this morning, which weighed on canola values.
A weather premium remains in the market due to concerns of frost across the Prairies. That has provided a floor for prices.
The Canadian dollar moved well above 75 cents compared to its U.S. counterpart, which further weighed on values.
About 1,300 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 451.80 dn 0.60
Jan 458.90 dn 1.10
Mar 465.40 dn 1.10
May 470.80 dn 1.10

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