By Dave Sims, Commodity News Service Canada
WINNIPEG, October 20 – Canola contracts on the ICE Futures Canada platform were higher on Friday, taking strength from action in the Canadian currency.
The Canadian dollar was lower relative to its US counterpart, which made canola more attractive to out-of-country buyers.
Gains in U.S. soybeans, European rapeseed futures and vegetable oil contributed to the upside.
Farmer selling is sluggish right now, which helped prop up prices.
News that the White House has told the U.S. Environmental Protection Agency not to lower bio-diesel blending requirements also boosted prices.
On the flip side, farmers in Western Canada expect to combine this weekend, which was bearish.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:00 CDT:
