By Dave Sims, Commodity News Service Canada
WINNIPEG, May 15 – Canola contracts on the ICE Futures Canada platform were higher Monday morning, propped up by gains in the US soy complex.
Wet weather in parts of the Canadian Prairies as well as certain areas of the US has slowed down planting efforts of canola and soybeans.
Tightening canola stocks across the Prairies underpinned prices.
Gains in Malaysian palm oil were also supportive for canola.
However, the steady stream of soybean exports coming out of South America was bearish for values.
The Canadian dollar was higher relative to its US counterpart, which made canola less enticing to international buyers.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:53 CDT:
