By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, April 10 (MarketsFarm) – ICE Futures canola contracts were holding near unchanged Wednesday morning in thin and choppy activity.
The Chicago Board of Trade soy complex was narrowly mixed to start the day, with small gains in soybeans and losses in soyoil.
Ongoing uncertainty over Chinese demand for Canadian canola remained a bearish influence in the background, with little progress being made on fixing the dispute between the two countries.
However, chart support was holding to the downside. A lack of significant farmer selling and expectations for reduced canola acres this spring also provided support.
About 3,900 canola contracts had traded as of 8:51 CDT.
Prices in Canadian dollars per metric ton at 8:51 CDT:
Price Change
Canola Mar 455.40 up 0.10
May 463.20 up 0.10
Jul 475.70 unchanged
Nov 482.00 unchanged
