Food Industry
Industry: Email Alert RSS FeedCanola Hits $15/bu, Lower Prices Coming In 2008-09.
Resource News International, February, 2008
Byline: Don Bousquet, Resource News International Ltd
Winnipeg, Feb 27, 2008 (Resource News International via COMTEX) -- RNI Grain and oilseed futures at the ICE Canada futures market continued to rally sharply in the week ended Feb 22nd with canola climbing to new contract and record highs. The weaker Canadian dollar gave some support as did slow farmer selling and gains in international vegetable oil and oilseed markets. Continued expectations for Chinese buying, as a result of winter damage to their rapeseed crop, also supported values. Western barley moved higher as farmer selling was slow and bullish technical signals prompted speculative buying. Feed wheat rallied as it caught up to the big advances we have seen in US wheat futures.
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