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ICE Canada Review: StatsCan figures give canola a push

This article was originally published in The Public Ledger

CANOLA values at ICE Futures Canada finished Monday's session mainly higher with solid support coming from Statistics Canada acreage survey data and from talk of fresh export business, market watchers said.

Statistics Canada, in its first planting survey of the 2010 season, pegged canola area in Canada at a record sized 16.9 million acres. While the projection was record sized, the estimate was well below pre-report expectations which had called for plantings to be as large as 17.5 million to 18.0 million acres. Canola area in Canada during the spring of 2009 totalled 16.199 million acres.

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