By Marlo Glass, MarketsFarm
WINNIPEG, March 10 (MarketsFarm) – The ICE Futures canola market showed strength at midday on Tuesday, as financial markets recovered due to world leaders promising to protect and stimulate economic growth.
The Canadian dollar dipped below 73 U.S. cents on Tuesday for the first time in several years, which is partially responsible for rebounding canola values.
The soy complex on the Chicago Board of Trade was also supportive of canola values. Soyoil regained some of the considerable ground that was lost on Monday.
About 15,000 canola contracts traded as of 10:35 CDT.
Prices in Canadian dollars per metric tonne at 10:35 CDT:
Price Change
Canola May 460.10 up 4.90
Jul 469.00 up 5.30
Nov 479.40 up 6.10
Jan 485.00 up 5.20
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