By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 16 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Monday, due to strength in the Canadian dollar.
Gains in global crude oil values have supported the Canadian dollar, which was around 76.4 U.S. cents in early morning activity. That kept a lid on canola prices.
Chicago soyoil contracts were stronger in early morning trade, preventing further losses for canola. The December soyoil contract was up by about a fifth of a cent.
About 3,000 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric ton at 8:45 CDT:
Price Change
Canola Jan 557.30 dn 3.30
Mar 560.40 dn 3.20
May 560.00 dn 3.10
Jul 559.50 dn 1.30
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