By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Aug. 29 (MarketsFarm) – ICE Futures canola contracts were posting small gains in most months at midday Thursday, in thin and choppy activity.
“We’re just marking time,” said a Winnipeg-based trader on the lacklustre trade.
Gains in Chicago Board of Trade soybeans provided some underlying support, as unfavourable Midwestern weather raised concerns over the size and quality of the soy crop.
However, steady deliveries into the commercial pipeline tempered the upside, as the Canadian harvest gets underway.
About 4,700 canola contracts traded as of 10:45 CDT.
Prices in Canadian dollars per metric tonne at 10:45 CDT:
Price Change
Canola Nov 448.50 up 0.70
Jan 456.40 up 0.60
Mar 463.50 up 0.40
May 469.50 dn 0.20
