WINNIPEG, (Manitoba): The most-active contract for ICE canola futures rose on Monday to a record high, supported by limited selling of the new Canadian crop by farmers, and spill-over support from other oilseeds.
Prices are rising despite falling crush margins, a trader said. Canola trading “feels like a daily game of pass the hot potato — who has to buy it or sell it that day,” the trader said.
January canola gained $10.40 to $970.20 per tonne. It touched $978.30, the highest price for a most-active contract, according to Refinitiv data, which goes back to 2012.