ICE canola contracts down after China news

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, Dec. 13 2018 (CNS Canada) – ICE Futures canola contracts are weaker at midday Thursday, following the lead of the soy complex.
The United States Department of Agriculture confirmed this morning that China did in fact buy U.S. soybeans yesterday; however it wasn’t as much as traders were hoping. China bought 1,130,000 tonnes of soybeans for delivery in the 2018/19 marketing year.
“Unless there’s something more significant coming and everybody thinks there is but when, who knows,” said a Winnipeg based trader, adding that the trade is feeling uncertain currently.
Chicago Board of Trade soybean, oil and meal contracts are all weaker. Soybean contracts had rallied earlier in the day but are back down.
About 8,500 canola contracts had traded as of 10:19 CST.

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