WINNIPEG, Manitoba--ICE Futures canola contracts were stronger at midday Friday, finding spillover support from advances in the Chicago soy complex.
Chart-based positioning ahead of the weekend was a feature, as speculators were back on the buy side of the market after Thursday's selloff.
Forecasts calling for excessive heat in parts of the Prairies added to the firmer tone, with some areas still dealing with the aftereffects of recent flooding.
Canada exported 52,500 metric tons of canola during the week ended July 5, which was down 79% from the previous week.
Crop-year-to-date exports with one month remaining at 8.26 million metric tons compared with 9.15 million metric tons at the same point the previous year.
