ICE canola breaks below $500 in morning trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 23, 2018 (CNS Canada) – ICE Futures
canola contracts were lower Thursday morning, as harvest
progress continues across the Prairies.
Chicago Board of Trade soybeans, soyoil and meal contracts,
along with European rapeseed and palm oil, were all down too.
Soybeans are under pressure as rains across the United
States Corn Belt have provided ideal finishing conditions for
the crop, which is also providing pressure on the canola market.
The Canadian dollar was weaker this morning, which was
limiting losses for canola.
About 2,400 canola contracts had traded as of 8:40 CDT
Thursday morning.

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