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ICE Canola Futures Higher at Midday

07/23/2021 | 12:37pm EDT

WINNIPEG, Manitoba--The ICE Futures canola market was stronger at midday Friday, seeing some follow-through buying interest after Thursday's recovery from nearby lows.

Crop prospects continue to deteriorate across the Prairies, with hot temperatures and little moisture in the forecasts over the next week.

Gains in Chicago Board of Trade soyoil and a softer tone in the Canadian dollar were also supportive for canola, although soybeans were weaker at midday.

About 8,500 canola contracts traded as of 12:00 EDT.

Prices in Canadian dollars per metric ton at 12:00 EDT:

 
                          Price      Change 
Canola            Nov     890.20    up  8.90 
                  Jan     873.40    up  6.70 
                  Mar     855.30    up  4.90 
                  May     835.80    up  4.10 
 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

07-23-21 1236ET

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