By Glen Hallick, MarketsFarm
WINNIPEG, April 15 (MarketsFarm) – ICE Futures canola contracts were higher on Wednesday as the Canadian dollar was down about a penny, said a Winnipeg-based analyst.
“That’s despite pretty much all other grains being down,” he commented, noting canola had been near the low end of its range.
The Canadian dollar was at 70.97 U.S. cents by midday compared to Tuesday’s close of 71.92.
“That’s a big move in one day,” the analyst said.
Chicago soyoil was down about four-tenths of a cent per pound and United States wheat was lower as well. Also, there was a lack of support from European rapeseed, although Malaysian palm oil made some small gains.
Approximately 12,100 canola contracts were traded as of 10:42 CDT.
Prices in Canadian dollars per metric tonne at 10:42 CDT:
Price Change
Canola May 458.80 up 1.60
Jul 465.00 up 1.30
Nov 472.00 up 1.10
Jan 477.70 up 1.20
