By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, March 19 (MarketsFarm) – The ICE Futures canola market was stronger at midday Wednesday, taking some direction from the Chicago Board of Trade soy complex.
Soybeans, soyoil, and soymeal were all up sharply, although activity was volatile as world markets continue to react to the ongoing COVID-19 pandemic.
Recent weakness in the Canadian dollar contributed to the strength in canola, despite the slightly firmer tone in the currency on Thursday, as crush margins have improved by more than C$20 per tonne in a matter of days.
About 15,200 canola contracts traded as of 10:56 CDT.
Prices in Canadian dollars per metric tonne at 10:56 CDT:
Price Change
Canola May 462.70 up 5.30
Jul 470.30 up 5.00
Nov 478.70 up 3.80
Jan 486.00 up 3.90
