ICE canola weakens Monday morning

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, June 21 (MarketsFarm) – The ICE Futures canola market was weaker Monday morning, taking some direction from Chicago Board of Trade soybeans and soyoil to start the week.
Overnight losses in Malaysian palm oil and European rapeseed futures, along with a firmer tone in the Canadian dollar in early activity, contributed to the selling pressure in canola.
Relatively favourable crop conditions were another bearish influence, although peristent dryness concerns and a lack of significant precipitation in the forecasts provided some support.
Tight old crop supplies and solid end user demand also helped temper the declines.
About 4,200 canola contracts had traded as of 8:48 CDT.

Prices in Canadian dollars per metric ton at 8:48 CDT:

Price Change
Canola Jul 744.30 dn 18.80
Nov 681.30 dn 12.50
Jan 684.60 dn 9.10
Mar 681.00 dn 9.90

Futures Prices as of June 21, 2021

Canola
Price Change
Milling Wheat
1970-01-01 00:00
Price Change
Durum
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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