WINNIPEG, Manitoba--Gains in Intercontinental Exchange canola futures were higher at mid-session Thursday, on what an analyst believes could be concerns toward canola being planted late.
Earlier this week Alberta Agriculture Financial Services extended its seeding deadlines for the province's northeast, northwest and Peace regions.
"But the crop always gets in," the analyst said.
He added that until this year's crops are seen to be off to a good start, there's still room for canola to increase. However, most often prices in July are lower than in May.
The analyst noted there will very likely be higher inflation much further down the road, which he says is bullish for canola and other agricultural commodities.
