By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 15 (MarketsFarm) – ICE Futures canola contracts were on either side of unchanged at midday Tuesday.
One Winnipeg-based trader said participants will keep an eye on South American weather, as forecasts are the driving force behind markets after Chinese buying slowed down considerably.
Chicago soyoil was stronger at midday, offering support to canola values. Nearby contracts were up by about half of a cent in early morning activity.
Gains in the Canadian dollar kept pressure on canola prices. The dollar was around 78.5 U.S. cents at midday.
Approximately 12,500 canola contracts were traded as of 10:40 CST.
Prices in Canadian dollars per metric tonne at 10:40 CST:
Price Change
Canola Jan 596.60 up 0.30
Mar 588.70 up 0.20
May 581.90 dn 0.70
Jul 573.40 dn 1.90
