Canola Prices Grind Lower as Capped by a Strong Canadian Dollar

Canola prices remain rangebound and are trading in the lower portion of a 1.5 point range. Weakness from competing soybean oil has weighed on the vegetable oil complex. The recent strength of the Canadian dollar has also generated head winds for canola prices as it makes it more expensive to purchase Canola oil from Canada, a major source of the product.  Prices were unable to recapture…