By Jade Markus, Commodity News Service Canada
WINNIPEG, January 8 – ICE Canada canola contracts were mostly
higher at midday Friday, gaining back ground after sharp losses on
Thursday.
“I guess after that big downward move yesterday people are
somewhat shell-shocked,” said one trader.
He added that there aren’t many factors to push canola to the
upside on Friday, except for a slightly weaker Canadian dollar.
Volumes were light at midday, but action was picking up slightly
in Winnipeg.
“I’m trying not to fall asleep,” the trader said. “Nobody seems
to know what to do and nobody seems to want to do anything.”
“I think this market is heading lower before the day is over.”
Malaysian palm oil closed mixed.
About 8,167 canola contracts had traded as of 10:25 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 10:25 CST:
