ICE Canada Morning Comment: Canola Making Gains

To start off the last week of October, Intercontinental Exchange (ICE) canola futures were higher Monday morning. Support was coming from gains in the Chicago soy complex, as well as Malaysian palm oil and European rapeseed.

Tight supplies and this year's lackluster production continued to underpin canola values. As do uncertainty over the coming year as Prairie soil conditions remain exceedingly dry.

The Canadian dollar was a pinch lower this morning, with the loonie at 80.86 U.S. cents, compared to Friday's close of 80.93.

About 6,250 canola contracts had traded as of 9:35 ET.

Prices in Canadian dollars per metric tonne at 9:35 ET:

   Price Change

Nov 939.70 up 10.00
Jan 934.60 up 9.30
Mar 921.40 up 9.50
May 892.60 up 5.90

  (END) Dow Jones Newswires
  10-25-21 1000ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.