By Marlo Glass, MarketsFarm

WINNIPEG, Sept. 25 (MarketsFarm) – ICE Futures canola contracts were higher at midday Friday, after considerable losses throughout the week.

Strength in comparable vegetable oils propped up prices, with nearby contracts posting half-cent gains at midday. European rapeseed was also stronger, while Malaysian palm oil showed losses.

Harvest activity across the Canadian Prairies prevented further gains for canola, as the harvest is about 70 per cent complete.

The Canadian dollar was slightly weaker at midday, which also gave canola a boost. The dollar was around 74.5 U.S. cents.

Approximately 14,000 canola contracts were traded as of 10:35 CDT.

Prices in Canadian dollars per metric tonne at 10:35 CDT:

                          Price      Change
Canola            Nov     514.80    up  3.80
                  Jan     529.00    up  4.40
                  Mar     532.90    up  4.90
                  May     521.90    up  4.90