Howard Leaman Sep 24/18
Canola traded on both sides of unchanged again on Monday, ending
mixed. The nearby contracts ended slightly lower, while new crop contracts,
starting with the November 2019 position, were settled slightly higher. The
market was supported by spillover buying from palm oil, soy oil and to a
lesser extent European rapeseed, weakness in the Canadian dollar, and
continued reports of harvest delaying wet and cold weather in western
Canada. The Canadian dollar lost about a fifth of a cent against the U.S.
dollar on Monday.
The buying in canola was balanced by weakness in soybeans and soy meal.
Traders appeared to be reluctant to push prices too far in either direction.
Nov Canola 490.30 483.50
Jan Canola 497.00 490.00
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