By Dave Sims, Commodity News Service Canada
Winnipeg, March 28 (CNS Canada) – The ICE Futures Canada canola complex finished mostly lower on Tuesday, as traders positioned themselves ahead of tomorrow’s USDA planting intentions report. Spreads were narrowing in too, particularly the July/November set.
Losses in United States soybeans weighed on prices.
Ideas that canola acreage will increase this spring were
bearish for canola.
The recent blanket of snow across the Prairies has helped
replenish soil moisture ahead of spring seeding.
However, weakness in the Canadian dollar, relative to its U.S. counterpart, was bullish for canola as it made the commodity more attractive on the international market.
Canola exports have been better as of late which helped support the market.
