By Dave Sims, Commodity News Service Canada
WINNIPEG, March 28 (CNS) – Canola contracts on the ICE Futures Canada platform were weaker on Thursday, in sympathy with the United States soy complex.
Today at 11:00 CDT the USDA is scheduled to release its Prospective Plantings and Quarterly Grain Stocks Reports. Most analysts expect the agency to peg U.S. soybean acreage at 91 million acres.
Traders will be positioning themselves for the rest of the day as the markets are closed tomorrow for the Easter break. Today also marks the last trading day of the month.
The soybean harvest in Brazil is speeding along, which was bearish for values.
However, a recent rise in canola exports was bullish for values.
Slow farmer selling helped to steady prices.
Prices in Canadian dollars per metric ton at 9:05 CDT:
