By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 28 (MarketsFarm) – The ICE Futures canola market was on either side of unchanged midday Wednesday, bouncing around in light trading activity.
One Winnipeg-based trader expected canola to remain range-bound, with the January contract between approximately C$455 and C$467 into the New Year.
The Chicago Board of Trade is closed for Thanksgiving today, which means canola is lacking direction from the soy complex. However, a stronger tone for Malaysian palm oil offered some support to canola prices.
The Canadian dollar has remained steady this week at around 75.28 U.S. cents.
About 1,100 canola contracts traded as of 10:20 CST.
Prices in Canadian dollars per metric tonne at 10:20 CST:
Canola Jan 458.60 up 0.10
Mar 467.70 dn 0.10
May 476.20 up 0.10
Jul 482.40 dn 0.10