By Dave Sims, Commodity News Service Canada
WINNIPEG, July 30 (CNS) – Canola contracts on the ICE Futures platform were slightly higher at midday Monday.
Volumes were extremely light leading one Winnipeg-based trader to wonder if some trading sites were having trouble switching over to the new system. Today was the first time Canadian canola futures were traded in New York instead of Winnipeg.
“It took a long time for canola to even open last night,” he said. “Everything else is active, so you would assume canola would be active.”
Concerns over excess dryness in Western Canada were bullish for canola.
Gains in Chicago Board of Trade soybeans were also supportive.
However, losses in Chicago soyoil dragged on values.
About 7,600 canola contracts had traded as of 10:45 CDT.
Prices in Canadian dollars per metric ton at 10:45 CDT:
