ICE canola futures soften in extremely light trade
WINNIPEG, Manitoba, May 26 (Reuters) - ICE canola futures softened on Monday on a day of extremely light trade, with most U.S. markets closed for a holiday.
• July canola RSN5 settled down $2.30 at $718.50 per metric ton. November RSX5 was down 10 cents to $688.20.
• Without the Chicago Board of Trade soyoil BOv1 contract for spread-trading due to the Memorial Day holiday and little commercial activity to inspire hedging, there wasn't much going on in the canola market, traders said.
• Volume for the July contract was only a little over 8,000 contracts traded, versus more than 18,000 on Friday and no days under 20,000 since April 2.
• Canadian farm products received high-profile attention mid-day on Monday as King Charles and Queen Camilla arrived in Ottawa and visited a farmers' market. The king is opening Parliament on Tuesday in what many are describing as a sign of support for Canada, which has been facing numerous challenges to its economy and sovereignty from the U.S. Trump administration.
• Euronext August rapeseed futures COMQ5 were flat on Monday. Malaysian palm oil futures FCPOc3 rose 0.16%. POI/
• The Canadian dollar CAD= is at seven-month highs.
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