By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were higher, but trading had been to both sides of unchanged in thin and choppy activity.
United States markets were closed today for Martin Luther King Jr. Day, limiting the volume in canola
Increases in Malaysian palm oil were lending support to canola, but small losses in MATIF rapeseed limited the upside. Crude oil was relatively steady, offering little direction to the vegetable oils.
The Canada-China trade deal announced Friday continued to underpin canola futures. A Chinese importer already bought 60,000 tonnes of canola from Canada, shortly after that agreement was signed, said a report.
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ICE canola continues higher to start week
Glacier FarmMedia — ICE canola futures were stronger Monday morning after moving to both sides of unchanged in overnight activity….
With that deal in mind, an analyst said Agriculture and Agri-Food Canada’s projection of eight million tonnes in canola exports for 2025/26 could still be met. AAFC is scheduled to release its monthly supply and demand report this week.
The Canadian dollar was stronger on Monday, with the loonie at 72.14 U.S. cents compared to Friday’s close of 71.88.
Approximately 18,150 canola contracts were traded as of 10:31 am CST, with prices in Canadian dollars per metric tonne:
Canola Mar 641.30 up 1.80
May 652.00 up 3.00
Jul 657.50 up 2.80
Nov 650.40 up 1.30
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/.
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