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ICE Canola Starts Week Lower, Tracing Soyoil

WINNIPEG, MB, April 16, 2018 (CNS), Apr 16, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

Canola contracts on the ICE Futures Canada platform were lower on Monday, weighed down by losses in Chicago Board of Trade soyoil, Malaysian palm oil and European rapeseed futures.

Slight losses in CBOT soybeans added to the downside.

Recent strength in the Canadian dollar weighed on values.

Bearish charts signals could set the stage for further selling.

However, cold weather across the Canadian Prairies is likely to delay planting, which was supportive.

Global demand for oilseeds remains steady.

Prices in Canadian dollars per metric ton at 9:00 CDT:

                          Price      Change
Canola            May     521.50    dn  2.20
                  Jul     524.10    dn  1.90
                  Nov     511.80    dn  2.40

Dave Sims, Commodity News Service Canada

Copyright 2018 Commodity News Service Canada, Inc.

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