By Glen Hallick, MarketsFarm
WINNIPEG, June 4 (MarketsFarm) – ICE Futures canola contracts were steady at midday Tuesday, with low volumes traded so far.
The July contract slipped 60 cents at C$454.70 per tonne. The November contract was also down 60 cents at C$468.00 per tonne.
A Winnipeg-based trader commented there has been little influence from the soy complex on the Chicago Board of Trade.
“We’re waiting for some rain for the weekend,” he said.
Dry conditions have been a concern across much of Western Canada, which has provided a weather premium for canola.
The Canada/China dispute and a stronger Canadian dollar have been weighing on values. The loonie was stronger Tuesday at about 74.50 U.S. cents.
Approximately 7,500 canola contracts were traded as of 10:11 CDT.
Prices in Canadian dollars per metric tonne at 10:11 CDT:
Price Change
Canola Jul 454.70 dn 0.60
Nov 468.00 dn 0.60
Jan 474.10 dn 0.20
Mar 479.00 up 0.10
