By Jade Markus, Commodity News Service Canada
WINNIPEG, February 10 – ICE Canada canola contracts were stronger at midday on Wednesday, supported by a weaker Canadian dollar.
Losses in the Canadian dollar lent gains to canola, according to one Winnipeg-based analyst, but that support could be limited.
“Beans are relatively flat, so I don’t know if we’re going to be able to continue or hold this.
Stronger crush margins were also a feature on Wednesday.
“I think we got down to some levels where we uncovered some buying interest, which sparked the market back up again.”
Traders are selling as prices move higher, the analyst said.
“I think that’s why we’re stretching this thing out a little bit, we’ve got some targets in above the board.”
About 19,839 canola contracts had traded as of 10:30 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 10:30 CST:
