By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Feb. 12 (CNS Canada) – ICE Futures canola contracts were posting small gains Tuesday morning, seeing a modest correction after dropping sharply on Monday.
Early strength in Chicago soybeans and soyoil provided some spillover support for canola.
However, large supplies in the commercial pipeline and a lack of significant end user demand tempered the upside.
A firmer tone in the Canadian dollar also put some pressure on values.
About 5,700 canola contracts had traded as of 9:00 CST.
Prices in Canadian dollars per metric ton at 9:00 CST:
Price Change
Canola Mar 480.10 up 0.40
May 488.40 up 0.50
Jul 496.10 up 0.30
Nov 495.50 up 0.80
