Glacier FarmMedia – Canola futures on the Intercontinental Exchange were making small gains but the momentum could be short-lived.
Chicago soyoil, European rapeseed and Malaysian palm oil were lower. Crude oil was down US$1 per barrel as Israel and Hamas approach a ceasefire.
The Canadian dollar was down three-tenths of a United States cent compared to Friday, giving support to canola. There was no trading in Canadian markets nor a closing rate posted on Monday due to Thanksgiving.
High temperatures across the Prairies will struggle to reach 10 degrees Celsius on Tuesday as harvest operations near their end.
Nearly 24,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:43 CDT:
Nov 607.80 up 0.40
Jan 623.20 up 0.60
Mar 634.70 up 0.30
May 645.40 up 0.50
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
