Glacier FarmMedia – Canola futures on the Intercontinental Exchange were on the rise in the middle of Monday trading as stronger soybean prices spilled over the oilseed.
United States President Donald Trump urged China to quadruple its purchases of U.S. soybeans on social media on Sunday. A 90-day tariff pause on Chinese goods is set to expire on Tuesday. Soybeans were also positioning ahead of Tuesday’s monthly supply/demand estimates from the U.S. Department of Agriculture.
Chicago soyoil and Malaysian palm oil were higher while European rapeseed was lower. Crude oil was steady.
The Prairies received various amounts of precipitation over the weekend and will see more rain on Monday before it gives way to sunny skies as the week progresses.
The Canadian dollar was down two-tenths of a U.S. cent compared to Friday’s close.
About 24,400 canola contracts have traded at 10:25 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 677.50 up 8.10
Jan 689.10 up 8.10
Mar 697.90 up 8.40
May 705.90 up 9.30
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
