By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, MB, June 8, 2017 (CNS Canada) – ICE Canada canola contracts were stronger Thursday morning, as gains in the Chicago Board of Trade soy complex provided early support.
Supportive chart signals and weather concerns across Western Canada contributed to the firmer tone.
While the forecasts are improving in some areas, excessive moisture in northern parts of the Prairies and dryness in the south had traders keeping a weather premium in the canola market.
However, large South American soybean supplies and relatively favourable US production prospects tempered the advances.
About 2,200 canola contracts had traded as of 8:54 CDT.
Milling wheat, durum, and barley futures were all untraded.
