By Glen Hallick, Commodity News Service Canada
WINNIPEG, Feb. 16 (CNS Canada) – ICE Futures canola contracts were slightly stronger Tuesday morning following Monday’s holiday.
After being down in overnight trading, canola futures were making small gains, with the March contract above C$476 per tonne.
The markets were somewhat sluggish Tuesday morning as the initial optimism towards this week’s of United States/China trade talks has given way to caution. High-level negotiations resume in Washington, D.C. on Thursday, picking up from where they left off in Beijing last week.
On the Chicago Board of Trade, soybean bids were incurring small losses putting pressure on canola. However, soyoil futures were down slightly providing some support.
The Canadian dollar was trading lower Tuesday morning at 75.34 U.S. cents.
About 5,000 canola contracts had traded as of 8:32 CST.
Prices in Canadian dollars per metric ton at 8:32 CST:
Price Change
Canola Mar 476.30 up 0.50
May 485.50 up 0.60
Jul 492.80 up 0.70
Nov 495.30 dn 1.10
