By Marlo Glass, MarketsFarm
WINNIPEG, May 4 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were weaker on Monday morning, due to a lower tone for comparable vegetable oils.
Weakness in Chicago soyoil contributed to losses for canola. Nearby contracts were down by over half of a cent.
Relative strength to the Canadian dollar prevented further losses for canola values. The Canadian dollar was just under 71 U.S. cents on Monday morning.
About 2,000 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola Jul 463.80 dn 2.70
Nov 471.10 dn 2.70
Jan 477.00 dn 2.70
Mar 482.60 dn 2.40
END
ICE canola futures: canola starts Monday lower
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