By Glen Hallick, MarketsFarm
WINNIPEG, Sept. 3 (MarketsFarm) – ICE Futures canola contracts were weaker at midday Tuesday, as trading resumed following the Labour Day long weekend.
“It’s just wobbling up and down, always moving a little bit less than the oil and the meal markets would dictate,” commented a Winnipeg-based trader.
He noted that all of the oilseeds have been largely in the same situation, remaining range-bound.
“It’s just not easy to envision them breaking out in either direction. They’re sort of flat, choppy and subdued,” the trader said.
The Canadian dollar was hovering a little below 75 U.S. cents at midday, with the loonie at 74.95.
Approximately 4,500 canola contracts were traded as of 10:13 CDT.
Prices in Canadian dollars per metric tonne at 10:13 CDT:
Price Change
Canola Nov 446.00 dn 2.00
Jan 453.90 dn 2.20
Mar 460.80 dn 2.40
May 467.40 dn 2.10
