By Dave Sims, Commodity News Service Canada
WINNIPEG, March 13 – Canola contracts on the ICE Futures Canada platform were slightly higher Monday morning, taking strength from gains in Chicago Board of Trade soybeans and some speculative buying.
Canola stocks are expected to be tight this spring, which pushed prices higher.
Wet soil conditions in Western Canada and recent snowfall will likely push back planting.
Canada is enjoying some technical support, according to a report.
However, losses in CBOT soyoil were bearish for canola.
The Canadian dollar was slightly higher relative to its US
counterpart, which made canola less attractive to out-of-country buyers.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:58 CST:
