ICE Canola Midday: Prices stronger midday Monday

By Marlo Glass, MarketsFarm

WINNIPEG, Nov. 23 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Monday, supported by gains in comparable vegetable oils.
One Winnipeg-based trader noted canola values were due for a correction.
“Technical indicators show [canola] is running out of momentum, but not hitting enough selling to break the rally yet,” he said.
Nearby soyoil contracts were higher in early trade. Globally, Malaysian palm oil and European rapeseed were higher in overnight trade, which also gave canola prices a bit of a boost.
A slight dip in the loonie was another supportive factor for canola. The dollar was around 76.3 United States cents.
Approximately 15,000 canola contracts were traded as of 10:45 CST.
Prices in Canadian dollars per metric tonne at 10:45 CST:
                          Price      Change
Canola            Jan     582.40    up  6.20
                  Mar     578.30    up  4.90
                  May     574.60    up  4.50
                  Jul     568.80    up  3.30

Futures Prices as of November 23, 2020

Price Change
Milling Wheat
1970-01-01 00:00
Price Change
1970-01-01 00:00
Price Change
New Barley
1970-01-01 00:00
Price Change

Prices are in Canadian dollars per metric ton


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