By Glen Hallick, MarketsFarm
WINNIPEG, April 4 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were on the upswing on Monday morning, with double-digit gains in the old and new crop contracts.
Support was coming from increases in the Chicago soy complex, along with upticks in Malaysian palm oil and new crop European rapeseed. However, the nearby May rapeseed contract was lower.
Global crude oil prices were again on the rise, which provided support for edible oils.
The Canadian dollar was higher on Monday morning with the loonie at 80.10 U.S. cents compared to Friday’s close of 79.92.
About 2,800 canola contracts had traded as of 8:33 CDT.
Prices in Canadian dollars per metric tonne at 8:33 CDT:
Price Change
Canola May 1,150.10 up 16.20
Jul 1,122.60 up 16.00
Nov 989.90 up 19.70
Jan 989.50 up 19.70
