WINNIPEG, Manitoba--Intercontinental Exchange canola futures are higher on Monday morning, getting support from some of the comparable oils.

There were strong upswings in Malaysian palm oil and more modest gains in European rapeseed. While Chicago soyoil eased back a little, there were increases in soybeans and soymeal.

Higher crude oil prices were lending support to the vegetable oils.

New crop crush margins advanced over the last week, further underpinning canola values.

Spring planting on the Prairies has finished or is close to it. Alberta reported on Friday that seeding there was 97 percent done with crops 76 percent emerged.

Heat warnings were issued for parts of the eastern Prairies and there are chances for scattered thunderstorm later today. The western half of the region is cooler with little chance of rain.

The Canadian dollar was virtually unchanged on Monday morning, with the loonie at 74.45 U.S. cents compared to Friday's close of 74.43.

About 4,900 contracts had traded as of 9:42 EDT.

Prices in Canadian dollars per metric tonne at 9:42 EDT: 


 Canola 
            Price       Change 
  Jul       662.70      up 4.70 
  Nov       638.10      up 0.50 
  Jan       643.60      up 0.30 
  Mar       651.40      up 2.30

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


(END) Dow Jones Newswires

06-05-23 1009ET