By Dave Sims, Commodity News Service Canada
WINNIPEG, August 11 – Canola contracts on the ICE Futures Canada platform were stronger Friday morning, as traders went bargain hunting in the wake of yesterday’s losses.
There are ideas the USDA overestimated the size of the US soybean crop in yesterday’s supply and demand report.
Hot and dry weather across parts of Western Canada was supportive for prices.
Slight gains in vegetable oil and the US soy complex added to the upside.
However, the Canadian dollar is slightly stronger relative to its US counterpart, which was bearish.
Crush margins are on the defensive.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:00 CDT:
