By Dave Sims, Commodity News Service Canada
WINNIPEG, January 16 – Canola contracts on the ICE Futures Canada platform were stronger at 10:30 CST on Monday in thin trade, taking strength from gains in Malaysian palm oil and European rapeseed futures.
The Canadian dollar was lower which made canola more attractive to international buyers.
Dry areas in South America were supportive for canola.
US markets were closed in observance of Martin Luther King Jr. Day.
However, the technical bias is on the downside, according to an analyst.
Warmer weather in Western Canada this week could prompt an increase in farm deliveries, according to a trader.
About 2,800 canola contracts had traded as of 10:30 CST.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:30 CST:
