By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, April 12 (CNS Canada) – ICE Futures Canada canola contracts were holding onto small gains Thursday morning, seeing a modest correction following recent declines.
After dropping sharply the past two sessions, canola was starting to look a little overdone to the downside, according to participants.
Gains in Chicago Board of Trade soybeans and weakness in the Canadian dollar were also supportive. Persistent winter weather across Western Canada, and expectations for seeding delays, contributed to the gains.
About 5,600 canola contracts had traded as of 9:03 CDT.
