By Marlo Glass, MarketsFarm
WINNIPEG, June 4 – ICE Futures canola contracts were higher at midday Thursday, continuing gains from prior trading sessions.
Slight weakness in the Canadian dollar was supportive of canola values, as the loonie dropped below 74 United States cents for the first time in two days.
Canola also got a boost from the Chicago soy complex, which was also higher on Thursday due to strong export demand.
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 464.90 up 4.00
Nov 471.70 up 3.30
Jan 478.40 up 3.60
May 484.30 up 4.00