WINNIPEG – The ICE Futures canola market was modestly lower to begin the week despite higher crude oil prices and a weaker loonie.
Crude oil increased due to a number of interest rate decisions this week by central banks as well as the ongoing shutdown of the Keystone pipeline, which suffered a leak last week.
Chicago soyoil was higher, while European rapeseed was lower and Malaysian palm oil was mostly higher.
The Canadian dollar was down nearly two-tenths of a United States cent on Monday morning.
About 9,500 canola contracts were traded as of 8:44 CST.
Prices in Canadian dollar per metric ton as of 8:44 CST:
Jan. 867.70 dn 4.70
Mar. 852.70 dn 8.20
May 849.00 dn 9.90
Jul. 846.30 dn 12.60
