ICE Canola Futures Mixed at Midday

WINNIPEG, Manitoba--The ICE Futures canola market was mixed at midday Monday, lacking any clear direction to start the week.

Speculative positioning was a feature, as traders continue to exit the nearby March contract.

Gains in Chicago Board of Trade soybeans provided some underlying support for the Canadian oilseed, as beans hit fresh contract highs. However, soyoil was softer on the day and the Canadian dollar was stronger, which cuts into crush margins.

Ongoing concerns over tight old crop supplies remained supportive, although demand is being rationed at current price levels.

About 12,300 canola contracts traded as of 11:36 EST.

Prices in Canadian dollars per metric ton at 11:36 EST:

                  Price     Change 
Canola      Mar   1,013.70  dn 3.90 
            May   1,001.00  up 0.60 
            Jul     978.90  up 5.40 
            Nov     836.30  up 0.10 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

01-31-22 1220ET