By Marlo Glass, MarketsFarm
WINNIPEG, July 15 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were slightly stronger in early morning trading.
Gains in comparable vegetable oils were supportive of canola prices. The Chicago soy complex was stronger following reports of slight decreases to crop conditions and dry weather in some regions.
Relative strength in the Canadian dollar limited further gains for canola. The loonie was at 73.7 U.S. cents during early morning trade.
About 2,000 canola contracts had traded as of 8:30 CDT.
Prices in Canadian dollars per metric ton at 8:30 CDT:
Canola Nov 480.10 up 0.90
Jan 487.20 up 0.50
Mar 492.40 up 0.40
May 497.40 up 1.70