Glacier FarmMedia – Canola futures on the Intercontinental Exchange were steady to higher at midday Monday, with the largest gains in the deferred months.
Chicago soyoil was steady, while European rapeseed and Malaysian palm oil were up. However, slow Chinese economic growth as well as oversupply concerns are pressuring crude oil prices.
While canola doesn’t seem to be “willing to move much higher”, an analyst said the January contract was holding its own after expecting declines. The trade’s reduced activity may be due to a lack of United States data releases during the federal government shutdown.
The Canadian dollar was steady compared to Friday’s close.
About 35,400 canola contracts have traded at 10:20 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 616.30 up 0.10
Jan 630.80 up 0.50
Mar 641.80 up 1.30
May 651.50 up 2.00
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
