The ICE Futures canola market was weaker Monday morning, taking some direction from Chicago Board of Trade soybeans and soyoil to start the week.

Overnight losses in Malaysian palm oil and European rapeseed futures, along with a firmer tone in the Canadian dollar in early activity, contributed to the selling pressure in canola.

Relatively favourable crop conditions were another bearish influence, although persistent dryness concerns and a lack of significant precipitation in the forecasts provided some support.

Tight old crop supplies and solid end user demand also helped temper the declines.

About 4,200 canola contracts had traded as of 9:48 ET. 


 
 
 
     Prices in Canadian dollars per metric ton at 9:48 ET: 
 
 
 
                          Price      Change 
 
Canola            Jul     744.30     dn 18.80 
 
                  Nov     681.30     dn 12.50 
 
                  Jan     684.60     dn  9.10 
 
                  Mar     681.00     dn  9.90

(END) Dow Jones Newswires

06-21-21 1021ET