ICE canola stronger at midday

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, Jan. 16, 2018 (CNS Canada) – ICE Futures canola contracts continued to recover at midday Wednesday, following the last few days of losses.
The March contract broke below the C$480 per tonne mark earlier in the week and found support at the C$475 per tonne mark Tuesday.
According to a Winnipeg based trader, the canola market has been pointed to the downside over the last few weeks due to the rallying dollar.
“Canola’s made it’s adjustment to the dollar and it may be able to stabilize again, and none of the markets are showing big strong directions,” he said.
Chicago Board of Trade soybean, oil and meal contracts were all rebounding too at midday.
About 5,300 canola contracts had traded as of 10:21 CST.

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