WINNIPEG--The ICE Futures canola market was narrowly mixed Monday morning, seeing some consolidation to start the week after setting fresh contract highs Friday.
Early losses in Chicago Board of Trade soybeans put some spillover pressure on canola, although soyoil was mixed.
Malaysian palm oil was also mixed in overnight activity. Canada's tight supply situation and the resulting need to ration demand remained supportive. However, there are ideas that canola is looking overpriced at current levels despite technical signals that are still pointing higher.
About 2,200 canola contracts had traded as of 9:43 ET.
Prices in Canadian dollars per metric ton at 9:43 ET:
Price Change
Canola Mar 1,035.80 up 0.70
May 1,012.30 dn 1.00
Jul 962.50 dn 0.20
Nov 796.00 dn 1.10
(END) Dow Jones Newswires
01-10-22 1016ET
