The ICE Futures canola market lower Monday morning, although activity was thin and choppy.

Losses in Chicago Board of Trade soybeans and soyoil put some spillover pressure on canola. European rapeseed futures were also weaker. However, Malaysian palm oil hit fresh contract highs overnight, which lent some support to the market.

Tight supplies and the need to ration demand remained supportive, although canola is already looking expensive at current price levels.

The Canadian dollar was holding steady in early activity, providing little direction.

About 3,000 canola contracts had traded as of 9:47 ET. 


 
 
     Prices in Canadian dollars per metric ton at 9:47 ET: 
 
 
 
                          Price      Change 
 
Canola            Nov     911.70     dn  3.80 
 
                  Jan     904.80     dn  2.30 
 
                  Mar     889.90     dn  1.50 
 
                  May     863.50     dn  2.50

(END) Dow Jones Newswires

10-18-21 1014ET