WINNIPEG, Manitoba--Intercontinental Exchange canola futures were weaker on Monday morning, following declines in comparable edible oils along with the Prairie weather forecast.
There were losses in Chicago soyoil and European rapeseed, while Malaysian palm oil was mixed. There were gains in Chicago soybeans and soymeal. Lower prices for global benchmark crude oil also weighed on oilseed values.
Temperatures across the Prairies have cooled off to something closer to normal. About five to 25 millimeters of rain was received across the region during the weekend, with thunderstorms for the northern parts of Alberta and Saskatchewan over the next few days.
The Canadian dollar continued to fall back this morning, which was tempering losses in canola. The loonie retreated to 78.52 U.S. cents compared to Friday's close of 79.41.
About 6,350 canola contracts had traded as of 9:41 EDT.
Prices in Canadian dollars per metric ton at 9:41 EDT:
Price Change
Canola Nov 904.90 dn 12.60
Jan 889.70 dn 9.70
Mar 868.10 dn 10.70
May 845.50 dn 12.60
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
07-19-21 1009ET
