Old crop canola prices were relatively weaker than new crop prices. There were reports of heavy deliveries in the May contract, presumably because ADM was liquidating its stocks at the ADM plant. There are rumours that they may be shut down for some time. Prices saw pressure from hedges today as farmers were making some deliveries on improved prices in the country. Commercial demand remains limited on little crusher demand and only the usual Japanese exports.
New crop continues to be supported by concerns about dry conditions.