By Dave Sims, Commodity News Service Canada
WINNIPEG, April 4 – Canola contracts on the ICE Futures Canada platform were slightly higher Tuesday morning, propped up by action in the Canadian currency.
The Canadian dollar was lower relative to its US counterpart, which made canola more enticing to foreign buyers.
There are ideas canola stocks are tightening across Western Canada, which lent support to prices.
Technical buying was a feature of the early morning activity.
The market appears to be carving out a bottom for itself, according to a report.
However, losses in vegetable oil were bearish.
Estimates for the size of the soybean crop in South America continue to raised, which dragged on prices.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:57 CDT:
