By Glen Hallick, MarketsFarm
WINNIPEG, Dec. 11 (MarketsFarm) – ICE Futures canola contracts were lower at midday Wednesday, following declines in the Chicago soy complex and a small increase in the Canadian dollar, according to a Winnipeg-based analyst.
Nevertheless, canola has continued to remain range-bound with bids shifting towards the low end, he commented.
The Canadian dollar was up slightly at 75.63 U.S. cents, compared to Tuesday’s close of 75.57.
The analyst said soybeans and soyoil at the Chicago Board of Trade could be entering a change in direction, from generally moving up to going sideways.
He also noted that yesterday’s supply and demand report from the United States Department of Agriculture has had little effect on the markets.
Approximately 15,900 canola contracts were traded as of 10:17 CST.
Prices in Canadian dollars per metric tonne at 10:17 CST:
Canola Jan 456.20 dn 2.60
Mar 465.20 dn 2.80
May 473.40 dn 2.50
Jul 479.30 dn 2.50
Futures Prices as of December 11, 2019
Prices are in Canadian dollars per metric ton