ICE canola continues to show weakness

The ICE Futures canola market retreated to start the week, following the lead of most vegetable oils.

Chicago soyoil and Malaysian palm oil were down, while European rapeseed was mostly lower. However, crude oil was steady to higher.

The Canadian dollar was down less than one-tenth of a United States cent compared to Friday’s close. The U.S. Federal Reserve will announce its latest key interest rate decision on Wednesday.

Roughly 11,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:33 CDT:

Nov.  638.40  dn  8.10

Jan.  646.70  dn  7.40

Mar.  653.60  dn  6.30

May   656.60  dn  4.70