By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Nov. 6 (CNS Canada) – ICE Futures Canada canola contracts were stronger Monday morning, seeing a modest recovery to start the week as the market took back some of Friday’s losses.
End-user bargain-hunting contributed to the early gains, as exporters and domestic crushers continue to show solid demand.
Chicago Board of Trade soybeans were also posting small gains in early activity, providing some spillover support for canola.
However, soyoil was down in Chicago, tempering the upside potential for canola. The Canadian dollar was holding steady, providing little direction.
About 1,500 canola contracts had traded as of 8:57 CST.
