By Marlo Glass, MarketsFarm
WINNIPEG, April 20 – ICE Futures canola contracts were lower at midday Monday, amid choppy trade activity.
One Winnipeg-based trader said there wasn’t a lot of news to influence canola prices this morning. However, a lower tone for soymeal and oil on the Chicago Board of Trade have weighed on canola values.
The trader noted that there aren’t any spring weather concerns just yet, but “we may have challenges in a few weeks.” The Red River has crested north of the United States border today, but widespread flooding has not occurred.
Relative strength in the Canadian dollar also pressured canola values. The dollar was at 71 cents at midday.
Approximately 11,500 canola contracts were traded as of 10:30 CDT.
Prices in Canadian dollars per metric tonne at 10:30 CDT:
Price Change
Canola May 454.00 dn 2.20
Jul 461.50 dn 2.10
Nov 469.30 dn 2.40
Jan 476.10 dn 1.90
