By Dave Sims, Commodity News Service Canada
WINNIPEG, April 3 – Canola contracts on the ICE Futures Canada platform were slightly higher Monday morning, tracking gains in the US soy complex.
The Canadian dollar was lower relative to its US counterpart, which made canola more attractive to domestic crushers and out-of-country buyers.
Gains in Malaysian palm oil were supportive for canola.
Canadian canola stocks continue to decrease, which underpinned prices.
However, Friday’s bearish report for US soybeans continued to overhang the market.
Soybeans from South America continue to stream into the market, which dragged on values.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT:
