By Marlo Glass, MarketsFarm
WINNIPEG, Oct. 14 (MarketsFarm) – ICE Futures canola contracts were slightly higher at midday Wednesday.
Activity in the November – January spread was a feature in trading, as speculative buyers positioned ahead of the November contract’s expiry.
Strength in comparable vegetable oils propped up prices, with nearby contracts posting quarter-cent gains at midday. Malaysian palm oil was also stronger, while European rapeseed showed losses.
The Canadian dollar was slightly stronger at midday, which limited the upside for canola. The dollar was around 76.1 U.S. cents.
Approximately 33,000 canola contracts were traded as of 10:45 CDT.
Prices in Canadian dollars per metric tonne at 10:45 CDT:
Price Change
Canola Nov 525.70 up 0.40
Jan 533.60 up 1.20
Mar 539.40 up 1.10
May 541.30 unchanged
