Forex
Canola Futures Show Signs of Improvement Amid Global Market Uncertainty
ICE Canola futures opened the week on a mixed note, showing some signs of improvement. The deadline set by the US and Iran for a deal to end their conflict expired on Monday, leading to uncertainty in global markets.
Crude oil prices rose slightly, while Chicago soyoil gained nearly one U.S. cent per pound. However, European rapeseed declined and Malaysian palm oil was mixed. The Canadian dollar strengthened by one-tenth of a U.S. cent compared to Friday's close.
A total of 19,600 contracts were traded on ICE Canola. Prices in Canadian dollars per metric ton as of 8:55 CDT were: Nov at $819.40 (up 0.50), Jan at $828.10 (unchanged), Mar at $834.10 (unchanged), and May at $838.00 (up 2.70).