WINNIPEG--Intercontinental Exchange canola futures were lower Monday morning, as European rapeseed was significantly weaker along with losses in Chicago soybeans and soymeal.
The rolling out of the January contract also remained a feature.
Gains in Malaysian palm oil and Chicago soyoil were tempering further declines in canola. Increases in global crude oil prices also were supportive of edible oils.
The Statistics Canada production report on Friday confirmed a smaller canola crop for 2021-22, now at 12.6 million tonnes. In turn that means supplies will continue to remain tight for the balance of the crop year.
The Canadian dollar was slightly higher Monday morning, with the loonie at 78.18 U.S. cents compared with Friday's close of 79.03.
About 3,850 canola contracts had traded as of 9:38 a.m. ET.
Prices in Canadian dollars per metric tonne at 9:38 a.m. ET:
Price Change
Canola
Jan 1,021.20 dn 5.70
Mar 987.00 dn 7.60
May 947.50 dn 5.90
Jul 898.00 dn 6.60 Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-06-21 1004ET
