ICE Canola Firmer On Crusher Demand

A canola trader said a weaker tone in the Canadian dollar was causing canola crush margins to improve, which was helping generate some good domestic crusher buying. He said export business was also providing some support for the market, as canola outperformed CBOT soybeans.

Funds were noted sellers, limiting the upside in canola, according to the trader.

Ongoing harvest pressure across western Canada also tempered the advances, as reported yields have been beating market expectations. While some areas could be at risk of frost next week, traders were generally of the opinion that the crops were far enough along that any worries of frost damage were minimal.

At 10:53 CDT, about 7,000 canola contracts had changed hands.

Western barley futures were untraded at midsession.

Prices in Canadian dollars per metric ton at 10:53 CDT: