WINNIPEG – Exiting the Thanksgiving Day weekend, the ICE Futures canola market started Tuesday lower, largely due to weakness in comparable oils and a stronger loonie.
Chicago soyoil was down, as well as European rapeseed and Malaysian palm oil. Despite the worsening conflict between Israel and the Gaza Strip, crude oil prices were slightly lower.
The Canadian dollar was up more than four-tenths of a United States cent compared to Friday’s close. The Bank of Canada (BoC) did not have a closing exchange rate on Monday due to Thanksgiving.
Temperatures in the high-teens to mid-20 degrees Celsius are expected for most of Alberta and Saskatchewan later today, while Manitoba will be barely in the double digits. Alberta will see some rain while the other two Prairie provinces will have sunny days.
Nearly 18,900 contracts were traded. Prices in Canadian dollars per metric ton as of 8:41 CDT:
Nov. 703.30 dn 7.30
Jan. 709.50 dn 8.00
Mar. 716.80 dn 8.60
May 721.60 dn 8.80
