WINNIPEG, Manitoba--The ICE Futures canola market was stronger Tuesday morning, as activity resumed after the Canada Day long weekend and values caught up with the Chicago soy complex.

Markets in the United States were closed Tuesday for Independence Day, but soyoil and soybeans were both sharply higher on Monday when Canadian markets weren't trading.

While some parts of the Prairies received rain over the weekend, the long-range forecasts remain hot and dry for most regions which was keeping a weather premium in the futures.

The Canadian dollar was firmer in early activity, tempering the advances in canola to some extent.

About 11,000 canola contracts had traded as of 9:35 EDT.


Prices in Canadian dollars per metric ton at 9:35 EDT: 


                Price    Change 
Canola   Nov   747.50  up 11.10 
         Jan   752.90  up 10.00 
         Mar   756.50  up  8.80 
         May   759.80  up  8.80

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

07-04-23 1006ET