WINNIPEG, (Manitoba): ICE canola futures rose on Monday, in subdued trading with US grain and oilseed markets closed for the Juneteenth holiday.
Dry conditions on the Canadian Prairies, especially in Alberta, and slow selling of canola by farmers to commercial buyers supported prices, a trader said. Most-active November canola gained $8.40 to settle at $718.80 per metric ton.
July-November canola spread, the most active inter-month spread, traded 5,589 times. Euronext August rapeseed futures dipped, even as the EU’s crop monitor cut its forecast of this year’s EU rapeseed yield.
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