ICE canola midday: very little to move futures

By Glen Hallick, Commodity News Service Canada

WINNIPEG, Jan. 29 (CNS Canada) – ICE canola futures were slightly weaker midday Tuesday as there was little news to push the markets either way, according to a Winnipeg-based trader.

“It’s down a buck. All of the grains and oilseeds are lower,” he said.

Also there wasn’t much movement so far today with the Canadian dollar, which at midday was holding relatively steady at 75.38 U.S. cents.

The trader said the only big items on the horizon that could drive futures are the United States Department of Agriculture reports, but those are not due until Feb. 8. They will include several backlogged reports, the crop production report and the latest World Agriculture Supply and Demand Estimates.

About 5,500 canola contracts were traded as of 10:18 CST.

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