WINNIPEG – The ICE Futures canola market took a tumble to begin the week, falling below the C$800 per tonne mark for the first time since July 13.
Canola followed the lead of Chicago soyoil, European rapeseed and Malaysian palm oil which all dropped in price. Crude oil was higher on stronger demand and incoming Saudi supply cuts. July is set to be crude oil’s best month in terms of price movement since April 2022.
The Canadian dollar advanced more than one-tenth of a United States cent compared to Friday’s close.
Nearly 9,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:44 CDT:
Nov. 784.10 dn 25.00
Jan. 787.10 dn 24.60
Mar. 789.20 dn 22.80
May 790.00 dn 16.60
