By Dave Sims, Commodity News Service Canada
WINNIPEG, February 16 (CNS) – Canola contracts on the ICE Futures Canada platform were higher Friday morning, due to action in the Canadian currency.
The Canadian dollar was lower relative to its U.S. counterpart, which made canola more attractive to international buyers.
Traders were taking positions ahead of the long weekend. Markets will be closed in Canada and the U.S. for civic holidays.
Gains in U.S. soybeans helped prop up values.
However, losses in U.S. soyoil were bearish for values.
Expectations of a large canola crop in Canada this spring also tempered the gains.
Prices in Canadian dollars per metric ton at 9:00 CST:
