By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 9 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mostly higher on Wednesday morning.
Gains in Chicago soyoil was supportive of canola prices. Nearby contracts were up by about a third of a cent in early morning trade. Market participants will be waiting for tomorrow’s World Agriculture Supply Demand Estimates (WASDE) from the United States Department of Agriculture (USDA).
Strength in the Canadian dollar kept a lid on further gains for canola, as the loonie remained over 78 United States cents in early morning activity.
About 9,000 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Price Change
Canola Jan 584.20 up 0.60
Mar 580.00 up 0.60
May 576.80 up 1.70
Jul 568.30 dn 0.30
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