By Dave Sims, Commodity News Service Canada
WINNIPEG, February 22 – Canola contracts on the ICE Futures Canada platform were stronger Wednesday morning, tracking advances in the vegetable oil market.
The Canadian dollar was slightly weaker relative to its US counterpart, which made canola more enticing to international buyers.
Crush margins in Western Canada are roughly C$50 lower than they were a month or so ago.
Large supplies coming out of South America added to the bearish tone.
However, ideas that canola stocks could be tighter than normal helped prop up prices.
Steady demand for oilseeds around the globe was bullish.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:48 CST:
