ICE canola steady to higher

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market showed small gains on Monday morning, continuing its positive momentum from the past week.

Malaysian palm oil was extremely strong, while European rapeseed was mostly positive and crude oil was higher after United States President Donald Trump warned buyers of Russian oil of tariffs and threatened Iran with military action. Meanwhile, Chicago soyoil was down, putting pressure on canola.

The Canadian dollar lost one-quarter of a U.S. cent compared to Friday’s close as Canada awaits U.S. tariffs come into effect on Wednesday.

Nearly 7,800 contracts were traded. Prices in Canadian dollars per metric ton as of 8:35 CDT:

May   613.10  dn  0.30

Jul.  619.00  up  0.70

Nov.  615.00  up  2.80

Jan.  623.50  up  2.90