By Glen Hallick, MarketsFarm

WINNIPEG, July 6 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher on Monday morning.

Support was coming from gains in the Chicago soy complex along with European rapeseed. Meanwhile, Malaysian palm oil was slightly lower.

After a weekend of turbulent weather, the forecast is calmer at the start of the week across the Prairies. The hottest temperatures will be in the eastern part of the region with things somewhat cooler in Alberta. Rain isn’t expected until mid-week.

The Canadian dollar was relatively steady at 73.80 U.S. cents, compared to Friday’s close of 73.72.

About 2,200 canola contracts had traded as of 8:41 CDT.

Prices in Canadian dollars per metric tonne at 8:41 CDT:

Price Change
Canola Nov 478.20 up 3.30
Jan 483.90 up 2.80
Mar 488.60 up 2.90
May 493.10 up 3.00