Glacier FarmMedia – Canola futures on the Intercontinental Exchange were weaker in the middle of Monday trading due to what one analyst said was a “macro selloff” in the markets, especially in crude oil.
United States President Donald Trump said last weekend that the U.S. and Iran are currently engaged in talks, which sent crude oil prices down more than US$3 per barrel. Chicago soyoil and Malaysian palm oil were lower, but European rapeseed was up.
Crude oil’s descent and a stronger U.S. dollar triggered a similar effect to the Canadian dollar, which lost seven-tenths of a U.S. cent compared to Friday’s close.
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ICE Canada Morning Comment: Canola sheds some ground
By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange stepped back on Monday morning, amid pressure from…
About 34,600 canola contracts have traded at 10:14 CST. Prices in Canadian dollars per metric tonne:
Price Change
Mar 644.70 dn 3.30
May 656.00 dn 3.20
Jul 664.40 dn 2.20
Nov 657.00 dn 0.30
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