By Marlo Glass, MarketsFarm
WINNIPEG, April 24 – ICE Futures canola contracts were mostly lower at midday Friday, amidst light trading volumes.
Relative strength in the May canola contract was attributed to high open interest due to the looming expiry date. Short covering was also a feature in trading activity.
Weakness in the soy complex on the Chicago Board of Trade was also a negative factor for canola prices.
A weaker tone for the Canadian dollar was supportive of values. The dollar was just under 71 cents at midday.
Approximately 6,000 canola contracts were traded as of 10:40 CDT.
Prices in Canadian dollars per metric tonne at 10:40 CDT:
Price Change
Canola May 457.60 up 0.60
Jul 460.60 dn 1.00
Nov 469.10 dn 1.10
Jan 475.10 dn 1.50
