By Jade Markus, Commodity News Service Canada
WINNIPEG, February 3 – ICE Canada canola contracts were weaker at midday Wednesday, as gains in the Canadian dollar offset support from Chicago Board of Trade soy oil.
“Pretty dead, pretty low volumes today too,” said one Winnipeg-based trader.
He added that he thinks the market is stronger than it could be, considering gains in the Canadian dollar, as strength in CBOT contracts offset some losses.
But other than that, canola was mostly slow and steady at midday on Wednesday.
“I don’t see much, I don’t see the big trade that we saw the previous two days.”
Canola saw more action on Monday and Tuesday, the trader said, as investors unwound soybean-canola spreads.
Malaysian palm oil closed mixed.
About 8,780 canola contracts had traded as of 10:40 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 10:40 CST:
