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WINNIPEG (Dow Jones)--Canola contracts on the ICE Futures Canada trading platform finished Monday's session with modest gains.

Strength in the outside oilseed markets encouraged much of the upward price climb although the stabilization of the global financial sector also was an underpinning price influence, industry watchers said.

Canola contracts moved higher early, underpinned by the overnight gains seen in Malaysian palm oil and European rapeseed futures, traders said. The strength displayed by the advances in CBOT soybean and soyoil futures further contributed to the friendly price tone, brokers said.

Additional support in canola came from strong domestic processor demand, especially as crush margins continue to sit at pretty profitable levels. The pricing of old export business by commercials helped to fuel the upward price action, as did some fresh chart-related buying, especially after values set new lows.

The slowdown in the level of farmer deliveries into the cash pipeline also stimulated some buying. The upside in canola was restricted by the favorable weather conditions for the development of the crop. The start of harvest operations in select areas of the Canadian prairies also helped to temper the price climb.

The upswing in the value of the Canadian dollar further limited the advances, brokers said. There were an estimated 8,346 canola contracts traded Monday, down from the 10,818 contracts that changed hands during the previous session. Of the contracts traded, 4,708 were spread-related.

Western barley futures were unchanged and untraded Monday.

Prices are in Canadian dollars per metric ton. 
                            Settlement  Prices   Change 
  Nov                           555.50           up 5.30 
  Jan                           563.90           up 5.00 
  Mar                           571.20           up 5.00 
Western Barley 
  Oct                           205.00           unchanged 
  Dec                           205.00           unchanged 
  Spread trade prices are in Canadian dollars and the volume 
represents the number of spreads: 
  Months           Prices              Volume 
  Nov/Jan  8.90 under to 8.30 under    1,362 
  Nov/Mar  15.80 under to 15.50 under    142 
  Nov/May  21.20 under to 20.20 under    421 
  Jan/Mar  7.40 under to 7.00 under      164 
  Jan/May  12.60 under to 11.90 under    115 
  Mar/May  5.70 under to 4.40 under      118 
  May/Jul  4.80 under to 3.30 under       32
FeedDinner 2018