Glacier FarmMedia — ICE Futures canola contracts were posting small gains at midday Monday, recovering from earlier losses as gains in Chicago soyoil provided support.
- The nearby May contract dipped below its 20-day moving average in early activity but moved back above that chart point as the day progressed.
- Chicago soyoil traded just under contract highs, with the ongoing uncertainty over the war in the Middle East keeping some caution in global markets — including vegetable oils.
- Speculative fund traders are holding a large net long position in canola of just over 100,000 contracts, according to the latest Commitments of Traders report.
- The Canadian dollar was slightly firmer at midday but remains near four-month lows relative to its United States counterpart. The softer currency is supportive for crush margins, which have widened to record levels over the past month.
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ICE review: Canola ends lower after choppy day
Glacier FarmMedia — The ICE Futures canola market was weaker at Monday’s close after trading to both sides of unchanged…
- An estimated 20,700 canola contracts traded as of 10:40 CDT.
Prices in Canadian dollars per metric tonne at 10:40 CDT:
Canola May 727.30 up 0.30
Jul 740.30 up 0.30
Nov 734.00 up 0.20
Jan 739.90 up 0.10
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