WINNIPEG, Manitoba--The ICE Futures canola market showed modest gains for canola in the middle of Monday trading.

European rapeseed and Malaysian palm oil were both in positive territory while crude oil rose due to welcomed economic data from China and Ukrainian attacks on Russian refineries. However, Chicago soyoil was in the red, limiting canola's rise.

The Canadian dollar was down less than one-tenth of a United States cent compared to Friday's close.

One analyst said that oilseed selling was "overdone" and with good buying activity from the funds last week, canola "still has some life". Another analyst added farmer selling of U.S. soybeans has backed off.

About 25,400 contracts have traded at 11:18 a.m. ET. Prices in Canadian dollars per metric ton: 


Canola 
        Price    Change 
May     633.00   up 2.40 
Jul     642.70   up 2.60 
Nov     648.50   up 1.10 
Jan     656.20   up 1.50

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

03-18-24 1148ET