By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 29 (MarketsFarm) – The ICE Futures canola market was steady at midday on Friday, bouncing around in light trading activity.
One Winnipeg-based trader expected canola to remain “chopping up and down” due to a lack of activity in American commodity markets, because of Thanksgiving.
Canola prices received some direction from soyoil on the Chicago board of trade, which was up by a quarter of a cent at midday.
The Canadian dollar has remained steady this week at around 75.1 U.S. cents, further supporting canola values.
About 5,600 canola contracts traded as of 10:45 CST.
Prices in Canadian dollars per metric tonne at 10:45 CST:
Canola Jan 457.90 dn 0.70
Mar 467.00 dn 0.70
May 475.40 dn 0.40
Jul 481.60 up 0.20