ICE Canola Mixed Early, Consolidating to Start Week

WINNIPEG--The ICE Futures canola market was narrowly mixed Monday morning, seeing some consolidation to start the week after Friday's rally.

Early losses in Chicago Board of Trade soyoil futures put some spillover pressure on canola, but Malaysian palm oil was higher overnight and European rapeseed was mixed. CBOT soybeans were higher.

The Canadian dollar was firmer in early activity, but still near its softest levels of the past month.

Tight supplies and the need to ration demand remained supportive for canola, but those concerns have been priced into the market for some time and speculative positioning was likely accounting for most of the activity.

About 7,200 canola contracts had traded as of 9:43 a.m. ET.

Prices in Canadian dollars per metric ton at 9:43 a.m. ET:

 
                          Price      Change 
Canola            Jan   1,026.10     up  0.80 
                  Mar     990.10     dn  1.40 
                  May     952.50     dn  2.50 
                  Jul     908.90     dn  3.00 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

11-15-21 1018ET