By Jade Markus, Commodity News Service Canada
Winnipeg, June 2 (CNS Canada) – ICE Canada canola contracts were stronger in early activity on Friday.
The market was underpinned by ideas that prices have become oversold, after declines in the past seven sessions.
A weaker Canadian dollar also supported prices, as it makes the country’s commodities more affordable internationally.
Strength in Chicago Board of Trade soybeans was also supportive for prices.
But reports of lower commercial demand for canola limited the market’s upside, as did a weaker technical bias.
About 9,157 canola contracts had traded as of 8:54 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
