Glacier FarmMedia — ICE canola futures were stronger Monday morning, touching their highest levels in the past month as optimism over trade negotiations with China provided some support.
Prime Minister Mark Carney is expected to speak with Chinese president Xi Jinping at the sidelines of the Association of Southeast Asian Nations (ASEAN) summit in Malaysia this week. U.S. President Donald Trump is also attending the meetings but remains at odds with Canada after abruptly halting trade talks last week over an ad produced by the Ontario provincial government.
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ICE Canola Midday: Spillover from potential U.S./China trade deal
By Glen Hallick Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were climbing higher late Monday morning,…
The Chicago soy complex and European rapeseed were higher Monday morning, lending spillover support to canola.
The January canola contract moved above its 20-day moving average last week and was nearing the next resistance at the 50-day average on Monday.
About 18,400 canola contracts had traded as of 8:43 CDT.
Prices in Canadian dollars per metric tonne at 8:43 CDT:
Canola Nov 622.60 up 5.10
Jan 637.70 up 5.20
Mar 650.00 up 4.80
May 660.20 up 3.80
Access the latest futures prices at https://www.producer.com/markets-futures-prices/
