By Dave Sims, Commodity News Service Canada
WINNIPEG, July 25 – Canola contracts on the ICE Futures Canada platform were stronger Tuesday morning, propped up by gains in vegetable oil.
Advances in US soybeans were supportive for canola.
There are ideas more rationing needs to occur as current canola production will likely fall short of demand needs.
Despite recent rains some areas of Saskatchewan and Alberta are too dry which is stressing the crop.
However, the technical bias appears pointed lower.
The Canadian dollar is worth roughly 80 US cents, which is the highest it’s been in 14 months.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT:
