By Marlo Glass, MarketsFarm
WINNIPEG, June 25 – ICE Futures canola contracts were weaker at midday Thursday, pressured by forecasts that indicate positive growing conditions across the Canadian Prairies.
Weakness in Chicago’s soy complex also dragged down canola values. Nearby soyoil contracts were lower by about half of a penny yesterday, and continue a downward trend at midday.
Slight weakness in the Canadian dollar prevented further losses for canola. The dollar was around 73.2 United States cents at midday.
Approximately 11,000 canola contracts were traded as of 10:45 CDT.
Prices in Canadian dollars per metric tonne at 10:45 CDT:
Price Change
Canola Jul 472.60 dn 2.20
Nov 469.40 dn 2.10
Jan 475.40 dn 2.10
May 480.60 dn 1.70
