Old crop canola futures fell, but new crop months rose on Monday.
Old crop months were pressured down by weaker soybean prices and the stronger Canadian dollar, which was almost at par.
Stronger soy oil and crude prices supported the market as did worries about dry conditions in the western Prairies.
The May canola contract fell 80 cents to $379.90 per tonne on 6,621 trades.
The previous day’s best basis narrowed to 4.75 per tonne off the May contract in the par region, according to the Winnipeg ICE Futures daily report.
The 14-day Relative Strength Index for May canola was 60, according to BarChart.com. The rule of thumb is an RSI of 30 indicates an over sold market and 70 indicates over bought.
July canola fell 30 cents to $385.80 on 5,073 trades.
New crop November rose $1.90 to $388.70 per tonne on 1,521 trades.
The Canadian dollar at noon was 99.75 cents US, up from 99.26 cents at noon the previous trading day. The U.S. dollar at noon was $1.0025 Cdn.
Winnipeg barley again saw no trade. The May contract was steady at $154 per tonne. July was steady at $145. December was steady at $150.
Chicago May soybeans fell six cents to $9.36 US per bushel. November soybeans fell 3.5 cents to $9.2225 per bu.
May oats fell 2.5 cents to $2.08 US per bu.
Light crude oil for May delivery rose $1.75 to $86.62 US per barrel.
The U.S. Food and Drug Administration added ADM Agri-Industries crushing plant at Lloydminster, Alta., to its watch list after detecting salmonella in an export shipment of canola meal.
Canadian Oilseed Processors Association members crushed 108,829 tonnes of canola in the week ending March 31.
That was up 1.9 percent from the week before and it represented a capacity utilization rate of 84.7 percent.
To date in the crop year, members have crushed 2.82 million tonnes.
