ICE Morning Commentary : Canola Takes a Big Hit

WINNIPEG, Manitoba--The ICE Futures canola market saw sharp declines to start the week due to weakness in comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil were all in the red on Monday morning. Meanwhile, crude oil was also down after weekend attacks on United States soldiers and a tanker in the Red Sea.

The Canadian dollar was up less than one-tenth of a U.S. cent compared to Friday's close.

Nearly 9,800 contracts were traded.

Prices in Canadian dollars per metric ton as of 8:37 CST:

 
        Price   Change 
 Mar.   614.50  dn 9.70 
 May    619.10  dn 10.30 
 Jul.   622.60  dn 10.40 
 Nov.   621.60  dn 9.70 
 

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

(END) Dow Jones Newswires

01-29-24 1008ET