By Marlo Glass, MarketsFarm
WINNIPEG, Feb. 18 (MarketsFarm) – The ICE Futures canola market was stronger at midday Tuesday, recovering from losses incurred late last week.
One Winnipeg-based trader said canola was “overly weak” on Friday in reaction to concerns of protestors and rail blockades disrupting shipping activity.
“But today it is recovering a bit of that weakness,” he remarked.
A quiet soy complex on the Chicago Board of Trade kept a lid on canola prices. Market participants have been sidelined by uncertainty from China regarding future demand from the country.
About 36,000 canola contracts traded as of 10:30 CST.
Prices in Canadian dollars per metric tonne at 10:30 CST:
Price Change
Canola Mar 461.00 up 1.50
May 469.60 up 0.90
Jul 475.90 up 1.00
Nov 483.70 up 0.80
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