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Canola Starts the Week in the Green

Canola futures started the week on a higher note, boosted by expectations of lower canola yields in some regions in Alberta due to wet growing conditions.
 
Strength in vegetable oils also supported canola prices. Malaysian palm oil gained strength from reports of lower stocks at the end of July while Chicago soyoil was higher based on expectations of continued export demand from China.
 
Strength in the Canadian dollar limited the upside for canola.
 
November canola gained $2.10 to $486.90, January was $2.60 higher at $493.90 and March added $3.60 to $499.30.
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