By Glen Hallick, MarketsFarm
WINNIPEG, Sept. 21 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were lower on Monday morning, as soyoil at the Chicago Board of Trade was down six-tenths of a cent.
There were strong gains in Malaysian palm oil, while European rapeseed was steady to lower.
The Canadian dollar was down about four-tenths of a cent 75.42 U.S. cents, tempering further declines in canola.
The Prairie weather is expected to see temperatures remain five to 10 degrees Celsius above normal this week.
Alberta reported on Friday that the overall harvest reached 30 per cent complete province wide. About 13 per cent of the canola has been combined with another 47 per cent swathed or ready for straight cut.
The Canadian Grain Commission reported that producer deliveries of canola for the week ended Sept. 7 came to 595,700 tonnes. Canola exports amounted to 105,000 tonnes and domestic usage was 188,500 tonnes.
About 4,400 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric tonne at 8:40 CDT:
Canola Nov 528.60 dn 2.60
Jan 536.10 dn 2.40
Mar 542.50 dn 2.50
May 546.30 dn 0.70