By Jade Markus, Commodity News Service Canada
WINNIPEG–ICE Canada canola contracts were stronger Monday morning in light-volume trading.
The Canadian dollar was slightly firmer against its US counterpart in early activity on Monday, which limited upside in canola, but the loonie was still at a 13-year low overall, which was supportive.
US markets were closed on Monday for Martin Luther King Jr. Day, which kept canola volumes light in early activity, but could cause choppy trading throughout the day.
Exporter and crush demand are still strong, which was supportive.
Technical signals are firmer for canola, and the charts are pointing higher, said one analyst.
Canola moved weaker in overnight trading, but found support near a psychological resistance level.
Malaysian palm oil closed mixed.
About 2,910 canola contracts had traded as of 9:44 EST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric ton at 9:44 EST:
