By Jade Markus, Commodity News Service Canada
WINNIPEG, March 1 – ICE Canada canola contracts were stronger in early activity on Wednesday, underpinned by follow-through buying.
Sharp advances in Tuesday’s trade caused strength to build on itself into Wednesday, which is bullish.
Spill-over support from Chicago Board of Trade soybeans and soy oil added to the upside.
Brazilian producers are struggling to make soy deliveries due to muddy roads, reports say, which propped up oilseed markets.
The Canadian dollar was slightly weaker against its US counterpart in early activity on Wednesday, which added to the bullish tone.
About 4,603 canola contracts had traded as of 8:47 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:47 CST:
