By Glen Hallick, MarketsFarm
WINNIPEG, March 18 (MarketsFarm) – Canola bids are mixed midday Monday in line with the United States markets
A Winnipeg-based trader noted the canola market has been rather quiet so far Monday, as movement follows any of the latest news on trade talks between the U.S. and China.
The trader said he expects prices to remain choppy heading into spring, after posting solid gains on the markets last week.
“There is nervousness growing about the snow and wet conditions in the U.S. They really don’t have any dry areas, which could be good for their crops,” he said.
Also, the markets are entering a lull until spring planting gets underway. Until then, there is little to drive canola too far either way, he said.
The Canadian dollar was slightly under 75 U.S. cents at midday Monday.
About 5,400 canola contracts were traded as of 10:29 CDT.
Prices in Canadian dollars per metric tonne at 10:29 CDT:
Price Change
Canola May 464.50 dn 0.30
Jul 472.80 dn 0.10
Nov 484.80 up 1.40
Jan 489.50 up 0.30
