By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were pulling back on Monday morning, following other vegetable oils to the downside.
There were declines in the Chicago soy complex, Malaysian palm oil and most MATIF rapeseed contracts. Strong increases in crude oil limited the losses in the veg oils.
Statistics Canada reported on Wednesday that 1.02 million tonnes of canola were crushed in November, virtually on par with the previous November.
Also, StatCan said 1.62 million tonnes of canola were delivered in November, an improvement from 1.46 million tonnes a year ago.
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ICE Canola Midday: Ample supplies weaken prices
By Glen Hallick Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange remained lower by mid-morning Monday, pulled…
The Canadian dollar eased back on Monday morning, with the loonie at 73.07 U.S. cents, compared to Wednesday’s close of 73.13.
Approximately 6,900 contracts had traded by 8:31 CST and prices in Canadian dollars per metric tonne were:
Price Change
Canola Jan 590.00 dn 8.60
Mar 603.50 dn 8.00
May 613.80 dn 8.30
Jul 622.10 dn 8.50
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