ICE Canada Morning Comment: Canola starts week lower

Canadian Cattlemen

By Glen Hallick, MarketsFarm

WINNIPEG, March 22 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were weaker on Monday morning, despite supportive gains in other edible oils.

Concerns about tight old crop supplies continued to underpin canola values.

The Canadian dollar was relatively steady, with the loonie at 80.03 U.S. cents, compared to Friday’s close of 79.96.

About 1,700 canola contracts had traded as of 8:39 CDT.

Prices in Canadian dollars per metric tonne at 8:39 CDT:

Price Change
Canola May 772.20 dn 4.00
Jul 724.20 dn 2.90
Nov 617.00 dn 2.60
Jan 618.00 dn 3.60