By Marlo Glass, MarketsFarm
WINNIPEG, June 3 – ICE Futures canola contracts were higher at midday Wednesday, continuing gains from earlier in the week.
One Winnipeg-based trader said traders were buying canola and selling soyoil, which accounted for some of canola’s considerable strength while soyoil flagged slightly. Nearby soyoil contracts were down by a tenth of a cent at midday.
The Canadian dollar was stronger at midday, which kept a lid on further gains for canola values.
Approximately 7,000 canola contracts were traded as of 10:45 CDT.
Prices in Canadian dollars per metric tonne at 10:45 CDT:
Canola Jul 463.30 up 3.40
Nov 470.20 up 3.10
Jan 476.20 up 2.90
May 483.30 up 4.20