By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, June 7 (CNS Canada) – ICE Futures Canada canola contracts were stronger Thursday morning, as the market found some chart support following recent declines.
Gains in Chicago Board of Trade soyoil also provided some spillover support for canola, although soybeans were down in early activity.
While Prairie crop conditions are generally thought to be favourable, there are also still enough areas of concern across Western Canada to provide some underlying support.
Uncertain trade issues are also still overhanging the agricultural markets, with G7 leaders set to meet in Quebec later this week.
About 3,000 canola contracts had traded as of 8:47 CDT.
