By Marlo Glass, MarketsFarm
WINNIPEG, April 2 – ICE Futures canola contracts were mixed at midday Thursday with nearby contracts biased to the downside.
Soyoil on the Chicago Board of Trade regained some of the considerable losses incurred yesterday, which gave canola prices a bit of support.
One Winnipeg-based trader said spreading activity was also supportive, as market participants were selling oil and buying canola.
Relative strength in the Canadian dollar kept a lid on further gains for canola values. The dollar was at 70.73 cents at midday.
Approximately 10,500 canola contracts were traded as of 10:30 CDT.
Prices in Canadian dollars per metric tonne at 10:30 CDT:
Price Change
Canola May 466.00 dn 0.90
Jul 474.80 dn 0.60
Nov 481.80 dn 0.60
Jan 488.30 up 0.30
