WINNIPEG – The ICE Futures canola market made modest gains on Monday morning, largely on the strength of comparable oils.
Chicago soyoil and Malaysian palm oil were higher to start the day, while European rapeseed was lower. Crude oil rebounded after recent declines, gaining more than US$1 per barrel.
The Canadian dollar was down less than one-tenth of a U.S. cent compared to Friday’s close. The federal government will table its fall economic outlook in the House of Commons tomorrow.
Nearly 13,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CST:
Jan. 701.10 up 3.90
Mar. 704.90 up 3.10
May 709.60 up 4.00
Jul. 713.00 up 3.40
