By Dave Sims, Commodity News Service Canada
WINNIPEG, May 2 (CNS) – Canola contracts on the ICE Futures Canada platform were bouncing around unchanged Tuesday morning, in technical trade.
Planting is slowly swinging into gear across Western Canada, which was bearish for values.
Despite last week’s report by Statistics Canada which called for just 21.4 million acres of canola to be planted, most participants expect the final number to be much higher.
However, crush margins have been rising as of late and farmer selling is sluggish.
Volumes are low right now with little spread trade as most investors have already exited the May contract.
Prices in Canadian dollars per metric ton at 8:55 CDT:
