By Marlo Glass, MarketsFarm
WINNIPEG, July 16 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were slightly stronger in early morning trading.
Strength tone in comparable vegetable oils kept pressure on canola prices. The Chicago soy complex was stronger following the weekly export inspections report from the United States Department of Agriculture (USDA).
Relative strength in the Canadian dollar limited further gains for canola. The loonie was at 73.8 U.S. cents during early morning trade.
About 2,000 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 478.80 up 0.80
Jan 486.40 up 1.10
Mar 492.20 up 1.20
May 495.90 up 0.80
