WINNIPEG, Manitoba--The ICE Futures canola market stronger on Monday, seeing a correction to start the week amid ideas recent losses were overdone.
- The July and November contracts settled back above their 20-day moving averages after falling sharply lower on Friday.
- A firmer tone in crude oil provided spillover support, with Chicago soyoil and European rapeseed also higher on the day. Malaysian palm oil was narrowly mixed.
- Seeding operations are nearing completion across Western Canada, although some intended canola acres remained unseeded.
- There were 72,998 contracts traded on Monday, which compares with Friday when 89,838 contracts changed hands.
