By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, June 1 (MarketsFarm) – The ICE Futures canola market was mostly lower Monday morning, although activity was thin and choppy.
After posting gains for most of the overnight session, canola drifted lower in the most active front months.
A firm tone in the Canadian dollar, relatively favourable Prairie seeding weather, and uncertainty over trade relations between the United States and China all weighed on values.
On the other side, tightening visible supplies in the commercial pipeline, overnight gains in Malaysian palm oil, and bullish technical signals provided underlying support to start the week.
About 3,800 canola contracts had traded as of 8:51 CDT.
Prices in Canadian dollars per metric ton at 8:51 CDT:
Price Change
Canola Jul 459.70 dn 1.30
Nov 469.20 dn 0.90
Jan 475.70 dn 0.90
Mar 481.50 dn 0.60
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