ICE canola mixed to start week

By Phil Franz-Warkentin

Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was narrowly mixed Monday morning, seeing some consolidation after dropping sharply last week.

Ongoing tariff concerns that may disrupt trade with both China and the U.S. kept the canola market on edge. However, after losing about C$100 per tonne over the past month, canola was thought to be looking like a bargain for end users.

The Chicago soy complex was mixed in early trade, providing little direction. Malaysian palm oil and European rapeseed futures were both lower.

The Canadian dollar was firmer relative to its U.S. counterpart in early activity.

About 9,500 canola contracts had traded as of 8:51 CDT.

Prices in Canadian dollars per metric ton at 8:51 CDT:

Canola            May   561.60    up  1.10

Jul   574.50    up  0.60

Nov   584.00    dn  0.80

Jan   590.20    dn  2.60