By Glen Hallick, MarketsFarm
WINNIPEG, April 27 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were mixed on Monday morning, due to weaker vegetable oils and traders rolling out of the May contract.
Chicago soyoil was slightly lower as was Malaysian palm oil. European rapeseed incurred larger losses.
With daytime temperatures reaching into the mid-teens, there will be a growing number of Prairie farmers in their fields harvesting what was left to overwinter and planting new crops.
The COVID-19 pandemic remains a bearish influence on all markets.
The Canadian dollar was slightly higher this morning at 71.12 U.S. cents, compared to Friday’s close of 70.97.
About 7,100 canola contracts had traded as of 8:48 CDT.
Prices in Canadian dollars per metric tonne at 8:48 CDT:
Price Change
Canola May 455.50 dn 0.50
Jul 459.30 unchanged
Nov 468.60 up 0.60
Jan 474.80 up 0.60
