WINNIPEG--The ICE Futures canola market was stronger Tuesday morning, posting solid gains during the first trading session of the New Year in sympathy with the Chicago Board of Trade soy complex.

Weather concerns in parts of South America were behind some of the strength in the soy complex, according to participants.

Recent strength in other outside markets, including Malaysian palm oil and European rapeseed futures, added to the firmer tone.

Ongoing concerns over tight supplies and the need to ration demand remained supportive, although canola is thought to be looking overpriced at current levels.

About 4,000 canola contracts had traded as of 9:46 ET. 


 
     Prices in Canadian dollars per metric ton at 9:46 ET: 
 
 
 
                          Price      Change 
 
Canola            Mar   1,025.30     up 12.70 
 
                  May     997.20     up 13.80 
 
                  Jul     945.90     up 12.50 
 
                  Nov     780.60     up  8.90

(END) Dow Jones Newswires

01-04-22 1012ET