By Jade Markus, Commodity News Service Canada
WINNIPEG, December 11 – ICE Canada canola contracts were mixed at midday Friday as a lower Canadian dollar supported prices, while weakness in Chicago Board of Trade soy contracts added pressure.
“Today it’s just the Canadian dollar and soybean oil battling it out,” one Winnipeg-based trader said.
But the weaker Canadian dollar was winning the fight at midday as canola was mostly higher.
“There’s not much here in the way of real fundamentals. Everything is fairly routine, and if it wasn’t for that dollar I think we would be lower than we are now,” the trader added.
Volumes were also lower on Friday as Christmas edges closer.
“We’re a bit on the light side at times and I’d say that’s true in all the markets.”
Malaysian palm oil closed stronger.
About 18,671 canola contracts had traded as of 11:10 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 11:10 CST:
