By Dave Sims, Commodity News Service Canada
WINNIPEG, July 11 – Canola contracts on the ICE Futures Canada platform were higher Monday morning, tracking gains in the vegetable oil market.
The US soy complex was also posting gains, which was supportive for canola.
The Canadian dollar was lower relative to its US counterpart, which made canola more attractive on the international market.
Crude oil prices were stronger, which was bullish for values.
However, weather conditions for oilseeds on both sides of the border have been beneficial for crop development, which limited the advances.
The bias is to the downside, according to a report.
About 2,600 canola contracts had traded as of 8:50 CDT.
Milling wheat, durum, and barley futures were all untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT
