By Marlo Glass, MarketsFarm
WINNIPEG, March 24 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were on either side of unchanged on Tuesday morning, with nearby contracts trending higher amid light trading volumes.
Relative strength in Chicago soyoil was supportive of canola values. One private advisor has reduced Brazilian soy production to total 122 million tonnes, due to dry conditions in some growing areas.
The Canadian dollar remained below 70 U.S. cents, giving canola values a bit of a boost.
About 4,000 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola May 467.90 up 0.40
Jul 476.30 up 0.80
Nov 482.90 unch
Jan 489.30 dn 0.50
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