ICE Canola Slightly Lower at Midday

Despite soybeans being down about 10 cents, a trader said the weather was helping to limit the losses, as wet conditions were not being friendly to producers trying to harvest canola in western Canada, nor were they helping immature crops.

The traders said the stable Canadian dollar was a factor in keeping the prices at mostly steady values.

Buying was coming from people who were concerned about the weather, and possibly even some short covering, a market watcher said.

Some routine pricing of old export business with Japan was also was providing a firm floor for canola, traders said.

A broker said selling was coming from long liquidation orders from speculative accounts.

At 10:35 CDT, there had been about 5,800 canola contracts traded.

Western barley futures were untraded and unchanged at midsession Friday.