By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Nov. 15 (MarketsFarm) – ICE Futures canola contracts were trading within 50 cents of unchanged at midday Friday, as the market remained stuck in a narrow trading range.
Losses in Chicago Board of Trade soyoil and a firmer tone in the Canadian dollar cut into crush margins, which put some pressure on values.
However, margins remain near their best levels of the past year and good demand from domestic processors remained supportive, according to participants.
Ample supplies in the commercial pipeline kept a lid on the upside, although farmer deliveries slowed down slightly in the latest weekly Canadian Grain Commission report.
About 7,000 canola contracts traded as of 10:58 CST.
Prices in Canadian dollars per metric tonne at 10:58 CST:
Price Change
Canola Jan 462.30 up 0.30
Mar 471.00 dn 0.20
May 479.60 dn 0.40
Jul 486.80 dn 0.30