By Glen Hallick, MarketsFarm
WINNIPEG, June 8 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were steady to higher on Monday morning, getting support from gains in Chicago soyoil, European rapeseed and Malaysian palm oil.
The Prairies received rain over the weekend and more is forecast for this week.
Alberta released its weekly crop report on Friday and planting was just over 93 per cent complete. Last week, Saskatchewan reported planting was 96 per cent finished and seeding in Manitoba was at 88 per cent done.
The Canadian dollar was higher Monday morning at 74.63 U.S. cents, compared to Friday’s close of 74.47.
About 1,500 canola contracts had traded as of 8:38 CDT.
Prices in Canadian dollars per metric tonne at 8:38 CDT:
Price Change
Canola Jul 467.10 up 1.20
Nov 472.80 up 0.70
Jan 478.80 up 0.50
Mar 485.40 up 1.60
