By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 15 (CNS Canada) – ICE Canada canola contracts were stronger Monday morning, finding some support from the advances in the Chicago Board of Trade soy complex.
Solid end-user demand and supportive technical signals contributed to the early gains in canola, according to participants.
The need to keep some weather premiums in the futures ahead of the harvest added to the firmer tone, although conditions across Western Canada remain relatively favourable overall.
A stronger tone in the Canadian dollar tempered the gains in canola. Ongoing concerns over a decline in Chinese demand, due to new dockage rules set to be implemented soon, were also overhanging the market.
About 3,000 canola contracts had traded as of 9:02 CDT.
Milling wheat, durum, and barley futures were all untraded.
