By Marlo Glass, MarketsFarm
WINNIPEG, Feb. 20 (MarketsFarm) – The ICE Futures canola market was steady at midday Thursday, trading on either side of unchanged amid choppy trade activity.
One Winnipeg-based trader said market participants don’t know if China will “start buying next week, next month, or next year.” That uncertainty has side-lined some participants and subsequently driven down prices.
“It’s just too hard to gauge what will happen right now,” he said.
The Canadian dollar has been steady at around 75.44 U.S. cents, which failed to hold any influence over canola values.
About 10,500 canola contracts traded as of 10:35 CST.
Prices in Canadian dollars per metric tonne at 10:35 CST:
Canola Mar 459.30 unch
May 468.20 up 0.30
Jul 474.50 dn 0.10
Nov 483.00 dn 0.40