By Dave Sims, Commodity News Service Canada
WINNIPEG, October 16 – Canola contracts on the ICE Futures Canada platform were higher Monday morning, taking strength from gains in vegetable oil and issues with the Canadian currency.
The Canadian dollar was lower relative to its US counterpart, which made canola more enticing to international buyers.
Dry weather in the northern part of Brazil was supportive, as soybean farmers there are worried about soil moisture deficiencies.
Demand for canola is rising, according to recent crushing statistics.
However, losses in US soybeans were bearish for values.
Harvest conditions have improved in Western Canada.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:53 CDT:
