By Dave Sims, Commodity News Service Canada
WINNIPEG, April 3 (CNS) – Canola contracts on the ICE Futures Canada platform were higher on Monday, following gains in the U.S. soy complex.
Canola was testing key resistance on the charts, creating ideas the buying could build on itself.
Canola continues to lag soybeans to the upside and could shoot upwards if the right conditions present themselves, according to a report.
However, the Canadian dollar was higher relative to its U.S. counterpart, which made canola less attractive on the international market.
Last week’s USDA report featured a large ending stocks number, which was bearish.
Prices in Canadian dollars per metric ton at 9:00 CDT:
