By Glen Hallick, Commodity News Service Canada
WINNIPEG, Feb. 1 (CNS Canada) – At midday Friday the ICE canola futures and marking time to figure out where they want to go, said a Winnipeg-based trader.
He said bids went up overnight and fell hard earlier Friday morning, only to pick back up by midday.
Volumes “aren’t fantastic” and the spreads “aren’t a big feature,” the trader said.
“It seems like it wants to go down,” he commented.
Crush values were in the low C$70 range, which is C$50 more than crush values this past October, he noted.
The market should see some movement on Feb. 5 when Statistics Canada releases its data on stocks.
About 10,500 canola contracts were traded as of 10:20 CST.
