By Dave Sims, Commodity News Service Canada
WINNIPEG, July 31 (CNS) – Canola contracts on the ICE Futures platform were climbing higher at midday Tuesday, following sharp advances in U.S. soybeans and soyoil.
Commercial buying also boosted prices along with concerns about excess dryness throughout the southwest Prairies.
Volumes were much higher than yesterday suggesting some of the technical problems that plagued traders had been ironed out. Monday marked the first day canola contracts were traded out of New York instead of Winnipeg.
Slight gains in the Canadian dollar were bearish for values.
About 8,000 canola contracts had traded as of 10:45 CDT.
Prices in Canadian dollars per metric ton at 10:45 CDT:
