By Marlo Glass, MarketsFarm
WINNIPEG, May 13 – ICE Futures canola contracts were on either side of unchanged at midday Wednesday, in choppy trading activity.
One Winnipeg-based trader said canola prices were steady in comparison to other vegetable oils.
Weakness in the Chicago soy complex dragged down canola prices. Nearby soyoil contracts were down by about a third of a cent.
Relative weakness in the Canadian dollar provided some support to canola values. The dollar was just over 71 cents at midday.
Approximately 5,800 canola contracts were traded as of 10:30 CDT.
Prices in Canadian dollars per metric tonne at 10:30 CDT:
Price Change
Canola May 471.30 dn 0.80
Jul 477.10 unchanged
Nov 483.00 dn 0.30
Jan 489.50 up 0.20
