By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 4 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Wednesday.
One Winnipeg-based trader cited the unseasonably warm weather in the Canadian Prairies as taking producers’ focus away from selling canola, providing some support to canola prices.
Advances in comparable vegetable oils also gave canola prices a boost, with nearby Chicago soyoil contracts posting gains of about four tenths of a cent at midday.
The Canadian dollar was slightly weaker at midday, providing further support for canola. The dollar was around 76 U.S. cents.
Approximately 7,000 canola contracts were traded as of 10:40 CST.
Prices in Canadian dollars per metric tonne at 10:40 CST:
Price Change
Canola Jan 543.90 up 3.00
Mar 548.50 up 3.30
May 546.20 up 1.60
Jul 544.30 up 1.20
