By Dave Sims, Commodity News Service Canada
WINNIPEG, September 14 – Canola contracts on the ICE Futures Canada platform were higher at 10:45 CDT Monday, tracking gains in the US soy complex.
Malaysian palm oil and European rapeseed futures were also higher which supported prices.
Canola largely shook off the effects of Friday’s bearish USDA report, a trader said.
Values may have found a temporary support level, according to a trader.
“Some short-covering is kicking in,” the analyst noted.
Cold temperatures and wet conditions across part of Western Canada helped to underpin the market, according to a report.
However, looming harvest pressure capped the gains, according to participants.
a and unchanged.
Prices in Canadian dollars per metric ton at 10:45 CDT:
