WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were higher Monday morning, as trading resumed following the long weekend.
Canola was getting support from gains in Chicago soybeans and soymeal, as well as Malaysian palm oil. There were losses in
Chicago soymeal and the markets in Europe are closed today.
Global crude oil prices were relatively steady, providing little direction to the oilseeds.
The Canadian Grain Commission reported producer deliveries of canola for the week ended March 24 came to 507,300 metric tons, slightly lower than the previous week. Canola exports more than doubled to 244,700 tons and domestic usage was relatively steady at 189,700 tons.
The Canadian dollar was virtually unchanged on Monday morning, with the loonie at 73.82 U.S. cents.
About 9,150 contracts had traded by 9:35 ET and prices in Canadian dollars per metric ton were:
Canola
Price Change
May 631.40 up 5.00
Jul 640.30 up 4.20
Nov 649.50 up 4.40
Jan 656.40 up 4.20
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
04-01-24 1007ET
