WINNIPEG – The ICE Futures canola market returned to its rally on Monday after tumbling on Friday.
Chicago soyoil was up, as well as European rapeseed and Malaysian palm oil. Crude oil was also making gains, as traders weigh a possible interest rate hike from the United States Federal Reserve and tightening supplies.
The Canadian dollar was up less than one-tenth of a U.S. cent compared to Friday’s close.
Nearly 8,500 canola contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
Nov. 831.90 up 6.10
Jan. 833.30 up 7.70
Mar. 830.30 up 8.80
May 825.00 up 12.30
