By Dave Sims, Commodity News Service Canada
WINNIPEG, May 9 (CNS) – Canola contracts on the ICE Futures Canada platform were higher at midday Wednesday, tracking gains in Chicago Board of Trade soyoil.
Slow farmer selling and persistent wet conditions in parts of Alberta were bullish for values.
As the trade dispute between the United States and China drags on, so too does interest in Canadian canola.
“Somebody’s always doing something which is turning the market back up,” said a trader in Winnipeg.
However, strength in the Canadian dollar made canola less attractive to international buyers.
Canola is looking expensive relative to other oilseeds.
About 8,600 canola contracts had traded as of 10:48 CDT.
Prices in Canadian dollars per metric ton at 10:48 CDT:
