By Jade Markus, Commodity News Service Canada
WINNIPEG, December 14 – ICE Canada canola contracts were mixed—but mostly lower—at midday Monday, following Chicago Board of Trade soy contracts.
But losses were limited by a weaker Canadian dollar. The loonie sat at an 11-and-a-half year low at midday on Monday.
“The US markets would normally have it under more pressure than we’re seeing, with bean oil running 30 or 40 points lower here at times, but canola has been able to shrug it off and stay reasonably stable,” said one Winnipeg-based trader.
Volumes were low and the market was quiet on Monday, a trend which is expected to continue into the holidays, he added.
Producers are also waiting for the new year before they continue marketing their canola.
“They’re not too interested in the markets right now. It’s pretty quiet for new selling.”
Malaysian palm oil closed lower.
About 7,926 canola contracts had traded as of 10:40 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 10:40 CST:
