By Dave Sims, Commodity News Service Canada
WINNIPEG, January 2 (CNS) – Canola contracts on the ICE Futures Canada platform were higher Tuesday morning, following gains in the U.S. soy complex.
Cold temperatures across the Prairies have kept farmer selling to a minimum, which was supportive.
Strength in Malaysian palm oil helped prop up prices.
However, the Canadian dollar was higher relative to its U.S. counterpart, which made canola less attractive to international buyers.
This year’s large canola crop has raised the prospect there will
be more ending stocks than previously expected, which was bearish.
Prices in Canadian dollars per metric ton at 8:57 CST:
