By Marlo Glass, MarketsFarm
WINNIPEG, April 23 – ICE Futures canola contracts were higher at midday Thursday, continuing pricing trends set yesterday.
One Winnipeg-based trader said open interest in the May canola contract was considerably higher due to the looming expiry date, which provided a boost to canola prices.
Strength in Chicago soy due to optimism regarding Chinese buying also supported canola.
Relative strength in the Canadian dollar kept a lid on values. The dollar was around 71 cents at midday.
Approximately 15,500 canola contracts were traded as of 10:35 CDT.
Prices in Canadian dollars per metric tonne at 10:35 CDT:
Price Change
Canola May 458.20 up 4.50
Jul 461.40 up 1.10
Nov 470.00 up 1.00
Jan 476.70 up 1.00
