ICE canola continues to fall

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Sep. 18, 2018 (CNS Canada) – ICE Futures
Canada canola contracts continued to drift lower at midday
Tuesday, as speculative fund selling continued.
One Winnipeg-based trader pointed out that the November
contract fell below the C$485 per tonne mark, which is the first
time that has happened in quite a while.
“We’ve got some other chart support just underneath the
market which looks vulnerable to be penetrated later in the
day,” he added.
Chicago Board of Trade soybean, oil and meal contracts were
all lower also. Soybeans have new contract lows, which is
dragging canola down with it.
Cold and wet weather conditions are still affecting harvest
in parts of Saskatchewan and Alberta.
About 10,100 canola contracts had traded as of 10:25 CDT.

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