By Jade Markus, Commodity News Service Canada
WINNIPEG, January 26 – ICE Canada canola contracts were lower at midday on Thursday, tracking weakness in the US soy complex.
“Pretty quiet day, although the market seems to have a downward tendency to it, which it probably should,” said one Winnipeg-based trader.
He added that canola is stronger compared with Chicago Board of Trade soybeans, which is bearish.
However, the market was still able to hold up well despite that pressure.
“The buyers don’t seem to be there today in the canola, like they usually are. By about this time they’ve run it up pretty good,” the trader said.
About 8,639 contracts had traded as of 10:46 a.m. CST.
Milling wheat, durum and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric tonne at 10:46 a.m. CST:
