Canola Prices Edge Higher but Momentum Remains Negative

Canola oil prices rebounded over the past couple of trading session following benchmark soy bean oil higher.  Tightening supply of Canadian canola and a weaker loonie continue to buoy prices. Commodity prices in general received a boost from strong demand for oil, but that situation is likely transitory as mild clear weather in the mid-west of the US will allow farmers to increase the planting of…