By Dave Sims, Commodity News Service Canada
WINNIPEG, August 8 – Canola contracts on the ICE Futures Canada platform were higher Tuesday morning, tracking advances in the US soy complex.
Canola was also catching up to gains made in US soybeans on Monday when Canadian markets were closed for a civic holiday.
Hot conditions in Western Canada and the US Plains were stressing canola and soybeans, which was supportive.
Gains in Malaysian palm oil helped prop up values and the technical bias is pointed higher.
However, expectations of a large oilseed harvest across North America weighed down on prices.
Steady soybean exports from South America were bearish for canola.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:59 CDT:
