ICE canola rising to start week

Glacier FarmMedia — The ICE canola market was posting small gains Monday morning, consolidating above nearby lows to start the week.

Advances in Chicago soyoil provided spillover support. European rapeseed was also higher, although Malaysian palm oil was lower.

The canola harvest was nearing completion across Western Canada, although recent precipitation may cause delays for some later crops.

Poor export demand remained a bearish influence, as China remains absent from the canola market and other buyers have not yet picked up the slack.

About 8,400 canola contracts had traded as of 8:47 CDT.

Prices in Canadian dollars per metric tonne at 8:47 CDT:

Canola            Nov   607.30    up  2.30

                  Jan   620.00    up  1.90

                  Mar   631.80    up  1.90

                  May   641.80    up  1.20

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/