WINNIPEG, Manitoba--The ICE Futures canola market made small gains in the middle of trading Monday to go with mostly positive movement in comparable oils.

Chicago soyoil and European rapeseed were higher, while Malaysian palm oil was down. Crude oil was also up, hitting its highest prices since October 2024.

One analyst said that while there is currently a heatwave in South American soybean growing areas, there is little to suggest soybean prices will rise sharply. The analyst also anticipates prices to go down to US$9 per bushel or lower.

The Canadian dollar was up nearly one-third of a United States cent compared to Friday's close. Prime Minister Justin Trudeau announced his resignation earlier today with his successor to be determined in the coming weeks.

About 20,500 contracts have traded at 10:26 CST. Prices in Canadian dollars per metric tonne: 


 
           Price      Change 
Mar       627.90     up 3.90 
May       632.80     up 4.10 
Jul       634.70     up 3.60 
Nov       609.60     up 1.80

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

01-06-25 1155ET