By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, April 4 (MarketsFarm) – ICE Futures canola contracts were narrowly mixed at midday Thursday, lacking any clear direction.
Gains in Chicago Board of Trade soybeans provided some underlying support, amid increasing optimism over the possibility of a trade deal between the United States and China. However, Canada’s own trade dealings with China remain uncertain.
A lack of significant farmer selling, as spring road bans slow country movement and producers start to turn their attention to spring seeding, provided some underlying support for canola.
The outright trade was thin and choppy, with most of the activity confined to spreading. Speculators were rolling out of the nearby May contract and into July.
About 16,500 canola contracts traded as of 11:01 CDT.
Prices in Canadian dollars per metric tonne at 11:01 CDT:
Price Change
Canola May 455.50 up 0.10
Jul 463.30 0.00
Nov 475.60 up 0.60
Jan 486.10 dn 0.50
