By Dave Sims, Commodity News Service Canada
WINNIPEG, October 17 – Canola contracts on the ICE Futures Canada platform were slightly higher Tuesday, taking strength from a slightly weaker Canadian currency.
Weekly crush statistics reveal demand for canola is very strong right now.
Dry conditions in northern Brazil were supportive for canola as there are growing concerns about moisture problems there.
However, losses in Malaysian palm oil and improvements in harvest weather were bearish for canola.
The front-month November contract was running into technical resistance.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:00 CDT:
