By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were higher on Monday morning, gleaning support from comparable oils.
There were gains in the Chicago soy complex and European rapeseed, but Malaysian palm oil was lower. Moderate increases in crude oil spilled over into the vegetable oils.
The canola harvest across the Prairies was still in its early stages, with Alberta reporting less than one per cent of its canola has been combined.
The November canola contract remained above its 20- and 200-day moving averages as it closed in on its 100-day average.
The Canadian dollar was higher on Monday morning, with the loonie rising to 72.32 U.S. cents compared to Friday’s close of 72.18.
Approximately 9,100 contracts were traded by 8:39 CDT and prices in Canadian dollars per metric tonne were:
Price Change Canola Nov 673.50 up 7.00 Jan 684.50 up 7.00 Mar 692.70 up 5.70 May 702.20 up 6.90
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
