By Marlo Glass, MarketsFarm
WINNIPEG, Jan. 6 (MarketsFarm) – The ICE Futures canola market was slightly stronger at midday on Monday, despite a lower tone for soyoil on the Chicago Board of Trade and relative strength in the Canadian dollar.
One Winnipeg-based trader said canola prices have shown “a bit of an impressive performance.” Prices have ticked steadily higher due to high crush margins encouraging buying.
“Crushers are getting more aggressive in buying canola and selling oil and meal to book the crush values,” said the trader.
The Canadian dollar has remained just over 77 U.S. cents, keeping pressure on canola values.
About 12,000 canola contracts traded as of 10:40 CST.
Prices in Canadian dollars per metric tonne at 10:40 CST:
Price Change
Canola Mar 478.70 up 0.50
May 487.40 up 0.40
Jul 492.90 dn 0.10
Jul 495.80 dn 0.40
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