ICE Canola Futures Show Steady to Higher Gains Amid Market Caution

ICE canola futures were steady to higher at the start of the week amid mixed sentiment in comparable oils.

The markets were cautious on Monday due to a deadline imposed by the US and Iran expiring, which led to some trepidation. Crude oil prices saw a slight increase, while Chicago soyoil was up nearly one U.S. cent per pound. However, European rapeseed prices decreased, and Malaysian palm oil was mixed.

The Canadian dollar strengthened by one-tenth of a U.S. cent compared to Friday's close. Canola futures traded approximately 19,600 contracts on Monday.

Prices in Canadian dollars per metric ton as of 8:55 CDT included:

- Nov: $819.40 (up 0.50)

- Jan: $828.10 (unchanged)

- Mar: $834.10 (unchanged)

- May: $838.00 (up 2.70)