ICE Canada Morning Comment: Canola Continues to Pull Back

WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures were lower on Tuesday morning, due to the Prairie weather.

Above-normal temperatures are expected across much of the region today with cooler weather to follow in the coming days. As the week progresses, any rain for the Prairies will be most likely confined to the northern tier.

While the Chicago soy complex was lower, there were gains in European rapeseed and Malaysian palm oil.

The Canadian dollar was weaker this morning, with the loonie at 82.11 compared to Monday's close of 82.36.

About 2,800 canola contracts had traded as of 9:39 EDT.

Prices in Canadian dollars per metric ton at 9:39 EDT:

                Price     Change

Canola   Jul   842.30   dn 11.40

         Nov   723.00    dn 4.60

         Jan   722.60    dn 6.20

         Mar   719.90    dn 6.20


Source: Commodity News Service Canada, news@marketsfarm.com


  (END) Dow Jones Newswires
  06-15-21 1004ET
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