Howard Leaman Jun 18/19
Canola traded on both sides of unchanged again on Tuesday, ending
higher with relatively small gains. The market generally lacked direction
as traders took a wait-and-see stance ahead of further weather
developments. Recent rains in western Canada have eased drought fears
somewhat, but the crop is off to a poor start and more rain will be needed.
South of the border, excess moisture in key soy growing areas continues to
keep weather premium in the oilseed markets, but those concerns were not
sufficient to significantly extend the recent gains in soy on Tuesday.
Canola encountered additional selling pressure from strength in the
Canadian dollar. The dollar gained about a tenth of a cent against the U.S.
dollar on Tuesday.
Nov Canola 477.70 469.50
Jan Canola 485.70 468.50
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