By Jade Markus, Commodity News Service Canada
WINNIPEG, February 16 – ICE Canada canola contracts were stronger at midday on Tuesday.
A weaker Canadian dollar lent support to canola contracts at midday, while losses in Chicago Board of Trade soy oil capped gains.
“It’s probably a little bit more of a neutral position right now. It could trade either way—up or down—right now,” said one Winnipeg-based trader.
Canola remains attractively priced, the trader added, as commercial usage is strong, and exports and crush maintain solid paces.
“Volumes seem to be quite low, no great pressure either way right now.”
Canola could see a small bounce after being slightly oversold last week.
Malaysian palm oil closed stronger.
About 15,631 canola contracts had traded as of 10:36 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 10:36 CST:
