By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 25 (MarketsFarm) – To start off the last week of October, Intercontinental Exchange (ICE) canola futures were higher on Monday morning. Support was coming from gains in the Chicago soy complex, as well as Malaysian palm oil and European rapeseed.
Tight supplies and this year’s lackluster production continued to underpin canola values. As do uncertainty over the coming year as Prairie soil conditions remain exceedingly dry.
The Canadian dollar was a pinch lower this morning, with the loonie at 80.86 U.S. cents, compared to Friday’s close of 80.93.
About 6,250 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric tonne at 8:35 CDT:
Price Change
Canola Nov 939.70 up 10.00
Jan 934.60 up 9.30
Mar 921.40 up 9.50
May 892.60 up 5.90
