By Dave Sims, Commodity News Service Canada
WINNIPEG, Aug. 24 (CNS) – Canola contracts on the ICE Futures platform were slightly higher at midday Friday, tracking gains in soybeans and soyoil amid thin volumes.
The market was undergoing a bit of a correction after suffering losses over the past few days.
Demand for Canadian supplies remains steady.
Slight gains in European rapeseed futures were supportive for oilseeds in general.
However, the Canadian dollar was stronger, relative to its American counterpart, which made canola less enticing to international buyers.
Crush margins are near their lowest levels in over a decade, which cast a bearish tint over the market.
About 850 canola contracts had traded as of 10:50 CDT.
Prices in Canadian dollars per metric ton at 10:50 CDT:
