Glacier FarmMedia MarketsFarm – The ICE Futures canola market continued its recent rally on Monday morning despite a largely negative sentiment in comparable oils.
While European rapeseed was mostly higher, Malaysian palm oil was down. Crude oil was also lower as traders looked for signs regarding monetary policy at the World Economic Forum meetings in Davos, Switzerland this week.
The Canadian dollar was down one-quarter of a United States cent compared to Friday’s close.
There will be no trading in U.S. markets today due to Dr. Martin Luther King Jr. Day. The commodities markets will re-open Monday evening.
Nearly 4,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CST:
Mar. 629.20 up 2.20
May 636.40 up 1.70
Jul. 642.10 up 1.40
Nov. 640.70 up 2.40
