By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 29 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Tuesday, during the first session of trading after the Christmas holiday. Chart resistance is expected to kick in at around C$650 per tonne.
Canola was following gains in Chicago soyoil, with nearby contracts up by over a third of a cent.
Gains in the Canadian dollar kept a lid on further gains for canola prices. The dollar was around 78.1 U.S. cents at midday.
Approximately 12,000 canola contracts were traded as of 10:45 CST.
Prices in Canadian dollars per metric tonne at 10:45 CST:
Price Change
Canola Jan 633.00 up 2.10
Mar 633.40 up 5.00
May 621.00 up 4.90
Jul 606.90 up 5.30
