WCE canola prices closed the day mostly higher on the day, breaking through resistance. Crushers and fund buying pushed the market higher. Crush margins have improved recently so we have seen the crushers more active in the market. There are indications that the funds may be at an even position with their recent buying. Pressure came from lower oil and bean prices in Chicago and good farmer selling.
Farmers are currently unsure about where to sell into the market as is or wait for higher prices.
Spreads are continuing to tighten as traders are looking at the large vessel line-up for the Port of Vancouver.