By Dave Sims, Commodity News Service Canada
WINNIPEG, February 1 – Canola contracts on the ICE Futures Canada platform were higher Wednesday morning, taking strength from advances in the US soy complex.
The Canadian dollar was weaker relative to its US counterpart, which made canola more attractive to domestic crushers and out-of-country buyers.
The market was undergoing a slight correction in the wake of recent losses.
On the other side, losses in vegetable oil were bearish for values.
Weather concerns in South America have largely subsided, setting the stage for a massive harvest.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:53 CST:
