ICE canola choppy ahead of StatsCan report

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Dec. 5, 2018 (CNS Canada) – ICE Futures canola contracts are mixed this morning.
Chicago Board of Trade soybean contracts are up this morning, as news from China was supportive for the contracts. Chinese officials said they are “confident in implementing” trade commitments made to the United States “as soon as possible”, but gave no further details. Soy oil contracts are mixed, while meal contracts are down.
Trading could be choppy today ahead of tomorrow’s Production of Principal Field Crops report from Statistics Canada. Average trade estimates are pegging the canola crop at between 20.2 to 21.3 million tonnes, which would be higher than the August survey-based report but in-line with the September model-based report.
About 4,700 canola contracts had traded as of 8:52 CST Wednesday morning.

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