ICE canola dips lower to start week

Glacier FarmMedia MarketsFarm – The ICE Futures canola market was lower on Tuesday as it resumed trading after the National Day For Truth and Reconciliation on Monday.

European rapeseed and Malaysian palm oil were higher to start the day, while Chicago soyoil was down. Crude oil was also lower due to demand concerns and greater supply.

The Canadian dollar was down one-tenth of a United States cent compared to Friday’s close.

Approximately 13,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CDT:

Nov.  601.80  dn  2.00

Jan.  614.10  dn  2.20

Mar.  625.50  dn  1.50

May   632.50  dn  1.50