WINNIPEG, Manitoba--ICE canola futures were holding onto small gains Wednesday morning, seeing a continuation of Tuesday's recovery off nearby lows.
After falling for all the previous week, the canola market was thought to be due for a correction as values stabilized above nearby support.
Production uncertainty in parts of the Prairies was also supportive, although forecasts calling for moderate temperatures and light rainfall across much of Western Canada should benefit developing crops.
Losses in the Chicago soy complex tempered the upside in the Canadian oilseed.
Crude oil was holding near unchanged, amid ongoing uncertainty over the conflict in the Middle East.
