By Glen Hallick, MarketsFarm
WINNIPEG, Nov. 4 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher on Wednesday morning, as the Canadian dollar slipped below 76 United States cents.
The loonie was at 75.85 U.S. cents, compared to Tuesday’s close of 76.07.
There was support from gains in European rapeseed and Malaysian palm oil, but Chicago soyoil was virtually unchanged and provided little direction.
The unseasonably warm temperatures across much of the Prairies have encouraged farmers “to do other things besides be big sellers,” according to a trader.
Despite the lack of a clear outcome in the U.S. presidential election, the markets have shown little in the way of volatility.
About 2,850 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric tonne at 8:45 CST:
Price Change
Canola Jan 542.50 up 2.00
Mar 547.50 up 2.30
May 545.80 up 1.20
Jul 544.50 up 1.40
