By Dave Sims, Commodity News Service Canada
WINNIPEG, July 14 (CNS) – Canola contracts on the ICE Futures Canada platform were stronger Friday morning, tracking gains in the US soy complex.
Advances in Malaysian palm oil and European rapeseed futures were also supportive for the market.
Tightness in commercial canola stocks underpinned prices.
There are ideas the losses suffered earlier this week were overdone.
However, the Canadian dollar was higher compared to its US counterpart, which made canola somewhat less enticing to domestic crushers and foreign buyers.
Concerns over heat stress on Canada’s canola crop have eased in recent days.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:00 CDT:
