By Dave Sims, Commodity News Service Canada
Canola contracts on the ICE Futures Canada platform were lower at 10:55 CDT Monday in sympathy with the US soy complex.
The Canadian dollar was slightly stronger against its US counterpart which made canola slightly less attractive on the international market.
Scattered showers across a significant portion of the Canadian Prairies in recent days were bearish for values.
Malaysian palm oil and European rapeseed futures were also lower which weighed on values.
However, much of the canola crop is delayed due to weather issues and is going to need frost-free weather heading deep into the fall for it to come through OK.
Read Also
Canadian Financial Close: Loonie returns above 72 U.S. cents
By Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar on Friday finally turned around to close higher,…
“I’m not expecting things to go much higher,” said a trader. He said while canola will likely meander along with US markets it would take some fresh news to spark a rally.
Large world-wide supplies of soybeans capped the upside.
Around 6,700 contracts had traded as of 10:55 CDT, Monday.
Milling wheat and durum were both untraded and unchanged while 25 barley contracts changed hands.
Prices in Canadian dollars per metric ton at 10:55 CDT:
Price Change
Canola Nov 519.40 dn 2.00
Jan 519.40 dn 2.10
May 516.60 dn 1.50
Milling Wheat Oct 234.00 unch
Dec 234.00 unch
Durum Oct 335.00 unch
Dec 345.00 unch
Barley Oct 217.40 dn 1.00
Dec 222.40 unch
