By Marlo Glass, MarketsFarm
WINNIPEG, May 14 – ICE Futures canola contracts were stronger at midday Thursday, taking direction from comparable vegetable oils and the Canadian dollar.
Strength in the Chicago soy complex after considerable losses yesterday supported canola prices. Nearby soyoil contracts were up by about a third of a cent at midday.
Relative weakness in the Canadian dollar provided some support to canola values. The dollar was just over 71 cents at midday.
Approximately 6,000 canola contracts were traded as of 10:30 CDT.
Prices in Canadian dollars per metric tonne at 10:30 CDT:
Price Change
Canola May 472.90 up 1.40
Jul 478.80 up 1.50
Nov 484.50 up 1.10
Jan 490.00 up 1.20
