By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, July 19 (CNS Canada) – ICE Canada canola contracts were steady to higher Wednesday morning, as ongoing North American weather uncertainty provided support.
While recent rains have improved crop prospects in parts of Western Canada, persistent heat and dryness remains a concern in many areas with yield prospects thought to be declining.
Production concerns in parts of the US Midwest also remained supportive for soybeans today, which spilled into the Canadian market as well.
However, continued strength in the Canadian dollar tempered the upside in canola.
About 4,000 canola contracts had traded as of 8:54 CDT.
