Intercontinental Exchange (ICE) canola futures were narrowly mixed on Monday morning, ahead of tomorrow's production report from Statistics Canada.
The update should provide a better idea of how the 2021/22 canola harvest is shaping up, particularly with strong indications of poor yields. Although the federal agency recently pegged 2020/21 ending stocks above average trade guesses, they will remain tight for the foreseeable future, necessitating price rationing.
Alberta issued its weekly crop report on Friday, which cited canola yields at an average of 26.1 bushels per acre after 13.5% of the Canadian oilseed had been combined.
Temperatures across the Prairies are forecast to be in the high teens to mid-20 degrees Celsius, with scattered showers for the eastern half of the region.
While the Chicago soy complex was steady to lower, there were gains in Malaysian palm oil and European rapeseed.
The Canadian dollar was lower this morning with the loonie at 79.02 U.S. cents, compared to Friday's close of 79.17.
About 3,700 canola contracts had traded as of 9:39 ET.
Prices in Canadian dollars per metric tonne at 9:39 ET:
Price Change
Canola
Nov 853.50 dn 0.20
Jan 844.60 up 0.80
Mar 833.30 up 1.10
May 818.60 up 0.80
(END) Dow Jones Newswires
09-13-21 1006ET
