Canola values have continued to climb.
Ken Ball, Options Broker and Analyst with Union Securities, explains the fundamentals for canola are strong, with record demand for domestic crush and export.
He said there's concern about tight ending stocks.
“Commercial traders are eager to get their hands on canola now rather than wait for later so they're pushing fairly hard to pull canola out of farmers hands both in the futures market and in the basis out in the country.”
Ball says that the market is also receiving a boost from speculators and the soybean market.
He adds that as long as the soybean market remains firm, canola prices won't fall back significantly.
Canola has been trading at six month highs.
Sat, Apr 20, 1:00 PM
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