By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 25 (MarketsFarm) – ICE Futures canola contracts were weaker at midday Wednesday, amid light trade activity and positioning ahead of the United States Thanksgiving holiday.
Chicago soyoil contracts were stronger in early trade, which gave canola prices a boost. Nearby contracts were up by about half a cent in early activity.
Prolonged strength in the Canadian dollar was a limiting factor for canola’s gains. The dollar was near 77 United States cents at midday.
Approximately 7,000 canola contracts were traded as of 10:40 CST.
Prices in Canadian dollars per metric tonne at 10:40 CST:
Canola Jan 577.60 up 1.10
Mar 574.40 up 1.10
May 572.20 dn 0.60
Jul 564.90 up 0.80
Futures Prices as of November 25, 2020
Prices are in Canadian dollars per metric ton