By Dave Sims, Commodity News Service Canada
WINNIPEG, February 26 (CNS) – Canola contracts on the ICE Futures Canada platform were higher Monday morning, tracking gains in the U.S. soy complex.
The Canadian dollar was lower relative to its U.S. counterpart, which made canola more attractive to international buyers.
Dry weather in Argentina was supportive for values.
The technical bias is pointed higher.
However, recent hikes to production estimates in Brazil and the U.S. were bearish for prices.
Sluggish exports in the month of February undermined the market.
Prices in Canadian dollars per metric ton at 8:55 CST:
