By Marlo Glass, MarketsFarm
WINNIPEG, Jan. 29 (MarketsFarm) – The ICE Futures canola market was stronger at midday Wednesday, continuing pricing trends set in the previous day’s trade.
Rebounding soyoil on the Chicago Board of Trade provided support to canola prices, along with Malaysian palm oil prices recovering from sharp selloffs earlier in the week.
Relative weakness to the Canadian dollar also weighed on prices. At midday, the dollar was around 75.88 U.S. cents.
About 17,000 canola contracts traded as of 10:45 CST.
Prices in Canadian dollars per metric tonne at 10:45 CST:
Price Change
Canola Mar 463.20 up 1.40
May 472.40 up 1.40
Jul 479.60 up 1.70
Nov 487.60 up 1.00
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