ICE canola continues to climb higher

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 8, 2018 (CNS Canada) – ICE Futures
canola contracts continued their rally Wednesday morning.
Chicago Board of Trade soybean, soyoil and meal contracts
were also all up, as traders positioned themselves ahead of
Friday’s United States Department of Agriculture reports,
despite the latest trade war news between the U.S. and China.
The U.S. unveiled details this morning on the next round of
tariffs on US$16 million in Chinese imports to take effect later
this month.
There is still concern that the heat Western Canada is
experiencing could affect the canola crop.
The Canadian dollar was weaker against its U.S.
counterpart, which was supportive for canola.
About 5,800 canola contracts had traded as of 8:52 CDT
Wednesday morning.

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