By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 17 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Monday.
One Winnipeg-based trader said excess moisture in Alberta’s Peace and Northwest region has lowered the province’s yield estimates for canola, which has provided some support to values.
Chicago soyoil was stronger at midday due to steady buying from China. Nearby soyoil contracts were up by about a third of a cent at midday.
Strength in the Canadian dollar limited gains for canola. The dollar was around 75.7 United States cents at midday.
Approximately 12,000 canola contracts were traded as of 10:35 CDT.
Prices in Canadian dollars per metric tonne at 10:35 CDT:
Price Change
Canola Nov 488.00 up 3.00
Jan 494.90 up 3.50
Mar 499.00 up 3.30
May 502.40 up 3.00
