By Dave Sims, Commodity News Service Canada
WINNIPEG, March 26 (CNS) – Canola contracts on the ICE Futures Canada platform were stronger on Monday, taking strength from advances in U.S. soyoil.
Speculative buying added to the upside as traders prepared for the release of the USDA’s seeding intentions report on Thursday.
Gains in Malaysian palm oil futures and U.S. soybeans added to the upside.
However, recent strength in the value of the Canadian dollar weighed on futures.
The May contract was feeling some technical resistance on the upside.
Prices in Canadian dollars per metric ton at 9:03 CDT:
