By Dave Sims, Commodity News Service Canada
WINNIPEG, May 18 (CNS) – Canola contracts on the ICE Futures Canada platform were stronger Friday morning, pushed higher by strength in the Chicago Board of Trade soy complex.
Weakness in the value of the Canadian dollar, relative to its U.S. counterpart, was supportive for futures.
The front-month July contract enjoyed some technical support.
However, rains across Western Canada should help ease concerns about dryness problems, which was bearish.
Farmers in the U.S. are starting to make good progress with soybean seeding, which undermined canola.
Prices in Canadian dollars per metric ton at 8:48 CDT:
