By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 17 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Thursday.
One Winnipeg-based trader said canola was following Chicago soyoil “like a lost puppy,” and nearby soyoil contracts have hit new contract highs.
“Canola is even outperforming U.S. markets by a shade today,” the trader commented.
Gains in the Canadian dollar were another depressive factor for canola prices. The dollar was around 78.6 U.S. cents at midday.
Approximately 16,000 canola contracts were traded as of 10:45 CST.
Prices in Canadian dollars per metric tonne at 10:45 CST:
Price Change
Canola Jan 609.80 up 6.90
Mar 603.00 up 7.80
May 594.00 up 6.50
Jul 580.90 up 4.40
