By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 18 (MarketsFarm) – ICE Futures canola contracts were slightly weaker at midday Tuesday, amid light trading activity.
Strength in the Canadian dollar weighed on further gains for canola. The dollar was just under 76 United States cents at midday, due to comparable weakness in other major currencies.
Chicago soyoil was stronger at midday, which prevented further losses for canola. Nearby soyoil contracts were up by about a quarter of a cent at midday.
Hot weather is forecast across most of the Canadian Prairies this week, with isolated instances of storms expected in the eastern Prairies later in the week.
Approximately 6,000 canola contracts were traded as of 10:35 CDT.
Prices in Canadian dollars per metric tonne at 10:35 CDT:
Price Change
Canola Nov 486.80 dn 0.40
Jan 493.80 dn 0.30
Mar 499.20 dn 0.40
May 503.00 unchanged
