By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, June 18 (CNS Canada) – ICE Futures Canada canola contracts were stronger Monday morning, seeing some follow-through buying after Friday’s bounce off of nearby lows.
Ideas that the escalating trade dispute between the United States and China will shift some Chinese oilseed demand away from U.S. soybeans and towards Canadian canola were also supportive.
Dryness in parts of Western Canada and excessive moisture in others helped keep some weather premiums in the market to start the week, according to participants. However, conditions are generally favourable overall.
The Canadian dollar was slightly weaker in early activity.
About 6,000 canola contracts had traded as of 8:58 CDT.
