Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was slightly lower coming out of the weekend amidst mixed sentiment in comparable oils.
Chicago soyoil and European rapeseed were solidly in positive territory, while Malaysian palm oil was down. Crude oil prices were lower due to confusion over trade talks between the United States and China, as well as plans by OPEC+ to increase output.
An analyst said canola was lower despite support from higher soyoil prices, noting the potential for the Canadian oilseed to turn around.
The Canadian dollar was up more than one-tenth of a U.S. cent compared to Friday’s close.
The federal election is today with polls open from 8:30 a.m. to 8:30 p.m. local time.
About 25,200 canola contracts have traded at 10:10 CDT. Prices in Canadian dollars per metric tonne:
Price Change
May 691.90 dn 5.40
Jul 699.40 dn 2.40
Nov 656.10 dn 4.30
Jan 662.40 dn 3.70
