ICE Canadian canola futures traded mixed on Monday in thin volume, as wet, late-season planting weather underpins but outside markets dipped. Wet weather in unplanted areas of Prairies supports canola, with insurance deadlines falling between June 10 and 20. Weaker soybeans and crude oil seen pressuring canola, but if nearby corn continues last week's rise to record highs, canola may follow up-trader.
Total volume just 100 contracts early. Volume on Friday was lowest since May 30. July gained 60 cents to $590.80 per tonne on volume of 52 contracts as of 8:21 am CDT (1321 GMT). New-crop November eased 20 cents to $593.00 on volume of 55. Traders see canola mixed at Chicago Board of Trade open. CBOT soybeans called to open down 3 to 4 US cents per bushel on profit-taking, improved US plantings and lower crude oil.
MATIF November rapeseed down 0.6 percent. The Canadian dollar was trading at $0.9770 to the US dollar, or US $1.0235 at 8:17 am CDT (1317 GMT), up from Friday's close at $0.9783 to the US dollar, or US $1.0222. NYMEX crude oil futures dipped 1 percent early at US $98.29 per barrel. Coming up: Canadian Wheat Board forecasts wheat and barley plantings and production on Tuesday afternoon.
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