WINNIPEG, March 23, Intercontinental Exchange (ICE): Canola futures were stronger on Monday due to the growth of the Chicago soybean complex and the weakening Canadian dollar.

The soybean complex showed good growth in beans, butter and flour, as delays in deliveries to China and South America led to higher prices.

By Monday afternoon, the Canadian dollar fell to 68.91 US cents, compared with 69.77 closing on Friday.

The trader noted that rape is behind the dynamics of soybean prices.

On Monday, 17,029 contracts were concluded, which is comparable to Friday, when 18,680 contracts changed hands. Distribution amounted to 9,252 sold contracts.

Chicago Board of Trade (CBOT) soybean futures strengthened on Monday, benefiting from delays in ports in China and South America.

Due to the delay in the supply of soybeans in Chinese ports due to quarantine procedures for COVID-19, some crushing plants were in short supply. Trade in soybean flour in China's commodity market was halted after prices reached their daily highs.

The government of Argentina closed the ports of this country for 15 days as a result of a pandemic. In addition, there may be delays in the port of Santos in Brazil as workers go on strike there.

In a report by the US Department of Agriculture Export Inspectorate released today, soybeans for the week ended March 19 totaled only 21.0 million tons.

• The canola market was weaker after some speculative demand and a sharp decline on Monday. At the same time, trading fell to new lows, although the demand for transactions helped moderate the decline.
• In the Transcarpathian region, the harvesting campaign of early crops began, Deputy Minister of Agrarian Policy and Food Volodymyr Topchy noted that the harvest of winter wheat, corn and other grains in Ukraine in 2019 will not be lower than last year.
• This year, the territories that were allocated by the authorities of the Russian Federation for sowing grain and leguminous crops exceeded the area of ​​forty-six and a half million hectares.