ICE canola contracts falling

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, Dec. 11, 2018 (CNS Canada) – ICE Futures canola contracts are weaker at midday Tuesday, continuing its downward spiral from this morning.
Contracts were up strongly Monday finding support from a weak Canadian dollar, as tensions continued to mount over the arrest of Huawei Chief Financial Officer Meng Wanzhou last week. The dollar has strengthened Tuesday which pressured canola contracts. There is also concern the China/Canada tensions could affect demand for canola.
Chicago Board of Trade soybean, oil and meal contracts are all stronger, ahead of the release of the United States Department of Agriculture monthly supply/demand report at 11:00 CST.
Soybeans are also seeing support from reports that China and the U.S. have been talking over the phone about trade. U.S. President Donald Trump also tweeted out there have been “very productive conversation going on with China,” and that people should “watch for some important announcements.”
About 11,100 canola contracts had traded as of 10:09 CST.

---

Newsletter Sign Up - Stories about strategic business thinking and farming success

You'll receive profiles, case studies and strategy from modern farming in Canada, delivered to your inbox 6 days a week!

Your Email(Required)

Your Postal Code(Required)

Consent

I consent to receiving emails from Glacier FarmMedia, its affiliates and divisions and third parties, containing agriculture news, updates and promotions. I can unsubscribe at any time

Phone

This field is for validation purposes and should be left unchanged.