By Jade Markus, Commodity News Service Canada
WINNIPEG, December 22 – ICE Canada canola contracts were mixed, but mostly lower, at midday Tuesday, in quiet but choppy two-sided holiday trading.
“Now that we had that rally yesterday I think some of the buyers are moving back,” said one Winnipeg-based trader.
However, speculative interest on the buying side kept the market somewhat supported.
“But they’re not overly aggressive,” the trader said.
Spread activity was also a feature in the January/March contracts on Tuesday.
“Other than that we’re choppy, two sided. The US is seeing the same.”
Crush margins were also not supportive to canola on Tuesday.
The Canadian dollar was stronger relative to its US counterpart at midday on Tuesday.
Malaysian palm oil closed higher.
About 10,471 canola contracts had traded as of 10:35 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 10:35 CST:
