By Marlo Glass, MarketsFarm
WINNIPEG, July 21 (MarketsFarm) – ICE Futures canola contracts were on either side of steady at midday Tuesday, pressured by farmer selling and strength in the Canadian dollar.
One Winnipeg-based trader said canola prices were “good incentive for farmers to sell,” as prices have tested contract highs in recent days.
A stronger tone for the Canadian dollar kept pressure on canola. The dollar was around 74.3 United States cents at midday.
Approximately 15,000 canola contracts were traded as of 10:50 CDT.
Prices in Canadian dollars per metric tonne at 10:50 CDT:
Price Change
Canola Nov 485.70 up 0.40
Jan 492.60 up 0.30
Mar 497.00 dn 0.30
May 499.20 dn 0.80
