By Dave Sims, Commodity News Service Canada
WINNIPEG, May 8 (CNS) – Canola contracts on the ICE Futures Canada platform were higher at midday Tuesday, propped up by weakness in the Canadian dollar.
Advances in Chicago Board of Trade soybeans lent support to canola.
Speculators were liquidating their long positions, according to a trader.
Low volumes exaggerated the gains.
However, losses in CBOT soyoil dragged on values.
Favourable weather across much of the Canadian Prairies has helped farmers get a good start on seeding.
About 4,900 canola contracts had traded as of 10:50 CDT.
Prices in Canadian dollars per metric ton at 10:50 CDT:
