By Dave Sims, Commodity News Service Canada
WINNIPEG, June 20 (CNS) – Canola contracts on the ICE Futures Canada platform were slightly higher at midday Wednesday, tracking strength in U.S. soyoil.
The November contract was enjoying some technical support, according to a trader in Winnipeg.
Slow farmer selling and recent weakness in the Canadian dollar helped prop up the market.
Futures were also correcting themselves after yesterday’s downturn.
However, losses in U.S. soybeans were bearish for canola.
Uncertainty in global trade markets also weighed on the futures.
About 12,500 canola contracts had traded as of 10:45 CDT.
Prices in Canadian dollars per metric ton at 10:45 CDT:
