WINNIPEG, Manitoba--Intercontinental Exchange canola futures were mostly lower late Monday morning, but coming away from larger declines earlier in the session.
Brazil election: An analyst said the outcome of the Brazil presidential election is weighing on the Chicago soy complex. The analyst said with the re-election of President Lula resulted in the Brazilian real dropping about 10% in value this morning, making that country's soybeans more appealing.
Canola harvest: The analyst also said harvest pressure was still being felt in the canola market.
The Alberta crop report placed the canola harvest at 86% complete. Although that's up 12 points from the previous report, canola is least harvest crop in the province.
Comparable oils: Efforts to get the United States and Iran back to the negotiating table saw crude-oil values drop. That pressure weighed on canola, as well as Chicago soy and Malaysian palm oil. European rapeseed was steady to higher.
Weather: Prairie skies are to be clear on Monday, with temperatures mostly in the mid- to high-single digits Celsius. Depending on the location, rain or snow is expected across the region on Tuesday.
Canola deliveries: Statistics Canada reported September canola deliveries at 2.75 million tons compared with 1.92 million a year earlier.
Loonie: The Canadian dollar was stepping back late Monday morning with the loonie at 71.23 U.S. cents, compared with Friday's close of 71.46.
Contracts: Approximately 48,350 canola contracts were traded as of 11:25 a.m. EDT with prices in Canadian dollars per metric ton:
Price Change
Nov 777.70 dn 1.10
Jan 791.20 dn 1.40
Mar 803.60 dn 0.90
May 812.70 up 0.20
Source: Glacier FarmMedia, news@farmmedia.com
(END) Dow Jones Newswires
10-26-26 1210ET
