Glacier FarmMedia — The ICE Futures canola market was stronger at midday Tuesday, uncovering chart support after hitting its lowest levels in nearly six months in overnight trade.
The November contract touched a session low of C$606.10 per tonne, marking the weakest level for the front-month contract since the end of March.
The Chicago soy complex was narrowly mixed, providing little direction. European rapeseed was firmer, while Malaysian palm oil was down on the day.
Relatively favourable weather conditions for the advancing harvest tempered the upside in canola, with a lack of significant export demand also weighing on prices as China remains absent from the market.
An estimated 28,400 canola contracts traded as of 10:43 CDT.
Prices in Canadian dollars per metric tonne at 10:43 CDT:
Canola Nov 614.70 up 4.30
Jan 627.50 up 4.20
Mar 638.70 up 3.90
May 645.80 up 0.90
Access the latest futures prices at https://www.producer.com/markets-futures-prices/
