By Marlo Glass, MarketsFarm
WINNIPEG, Jan. 6 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher on Wednesday, mirroring gains in the Chicago soy complex.
The Chicago soy complex has shown considerable strength in recent days due to dry South American growing conditions. Nearby soyoil contracts were up by about three quarters of a cent in early morning activity.
Strength in the Canadian dollar kept a lid on further gains for canola. The dollar was around 78.4 United States cents.
About 8,000 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Canola Mar 652.50 up 6.80
May 643.30 up 6.10
Jul 632.10 up 5.50
Nov 548.40 up 3.40