Glacier FarmMedia — The ICE Futures canola market was mostly lower at midday Monday in choppy activity.
Losses in Chicago soybeans and soyoil accounted for some spillover selling in the Canadian oilseed, although canola made some brief attempts at moving higher.
The November contract tested support at both its 20- and 50-day moving averages but was holding above those chart points at midday.
Conditions remain relatively favourable for crop development across Western Canada, although enough areas of concern persist to keep some weather premiums in the market.
An estimated 20,500 canola contracts traded as of 11:18 CDT.
Prices in Canadian dollars per metric tonne at 11:18 CDT:
Canola Nov 709.00 dn 1.40
Jan 715.50 dn 1.00
Mar 720.10 dn 0.80
May 723.60 up 0.50
