WINNIPEG – The ICE Futures canola market was in retreat Monday morning, following the lead of falling crude oil prices.
Crude oil had its largest weekly decline since August on Friday due to new COVID-19 restrictions in China. The city of Guangzhou was locked down on Monday morning, causing further declines.
Chicago soyoil and European rapeseed were all trading lower, while Malaysian palm oil was in the black.
The Canadian dollar also continued to decline, losing nearly three-tenths of a United States cent.
About 6,600 canola contracts were traded as of 8:40 CST.
Prices in Canadian dollar per metric ton as of 8:40 CST:
Jan. 844.10 dn 13.00
Mar. 834.80 dn 12.10
May 835.90 dn 13.60
Jul. 840.10 dn 13.40
