By Marlo Glass, MarketsFarm
WINNIPEG, July 2 – ICE Futures canola contracts were higher at midday Thursday, amid light trading activity.
Canadian markets were closed yesterday for the Canada Day holiday, and United States markets will close at noon today.
Gains in Chicago’s soy complex were supportive of canola prices. Nearby soyoil contracts were up by about a tenth of a cent at midday.
Relative weakness in the Canadian dollar also provided support for canola. The dollar was around 73.4 United States cents at midday.
Approximately 8,500 canola contracts were traded as of 10:30 CDT.
Prices in Canadian dollars per metric tonne at 10:30 CDT:
Canola Nov 479.70 up 3.50
Jan 485.60 up 3.30
Mar 490.30 up 3.20
May 494.80 up 2.90