ICE Canola Jumps to Start Week

WINNIPEG, Manitoba--The ICE canola futures market surged higher to start the week, supported by higher soybean prices and a weaker Canadian dollar.

Chicago soyoil was on the rise at the start of trading Monday, while European rapeseed was mostly higher. Malaysian palm oil, on the other hand, was mostly lower.

Crude oil was down more than US$1 per barrel due to risk-off sentiment, despite Chinese markets returning from Lunar New Year holidays.

The Canadian dollar was down two-tenths of a U.S. cent from Friday's close.

Prices in Canadian dollars per metric ton as of 9:41 a.m. ET:

   Canola     Price     Change 
      Mar.    825.70   up 18.00 
      May     825.30   up 17.80 
      Jul.    827.70   up 18.00 
      Nov.    809.00   up 15.20 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

01-30-23 1010ET