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ICE Canada Morning Comment : Canola Prices Mixed

09/21/2021 | 10:05am EDT

WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures were narrowly mixed on Tuesday morning, as small gains in the Chicago soy complex provided little direction.

There are more significant increases in European rapeseed, but Malaysian palm oil slipped back a little.

Following overnight frosts in parts of the Prairies, daytime temperatures are forecast to improve into the low 20 degrees Celsius. Northern Alberta is expected to get rain today while the bulk of the Prairies are to remain dry.

Manitoba is scheduled to release its weekly crop report late this afternoon. Harvest progress will provide some pressure on values.

The markets in China remain closed for a second day to mark the Mid-Autumn Festival, which should result in another day of lower trading volumes.

The Canadian dollar was higher this morning with the loonie at 78.17 U.S. cents, compared to Monday's close of 77.95.

About 1,950 canola contracts had traded as of 9:36 EDT.

Prices in Canadian dollars per metric tonne at 9:36 EDT:

 
             Price      Change 

Canola

   Nov       861.10    unchanged 
   Jan       854.10    up 0.30 
   Mar       842.36    dn 0.30 
   May       825.80    dn 1.00 
 

Source: Commodity News Service Canada

Write to Glen Hallick at news@marketsfarm.com

(END) Dow Jones Newswires

09-21-21 1004ET

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