ICE canola contracts mixed at midday

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, Dec. 12, 2018 (CNS Canada) – ICE Futures canola contracts are mixed at midday Wednesday and are struggling to find support from the soy complex.
Chicago Board of Trade soybean, oil and meal contracts are all stronger. Canola has been struggling to follow the lead of the soy complex this week. A few months ago canola was considered overpriced, crush margins have now tightened and canola has become more reasonably priced making it lag the soy complex.
“Hopefully now that it is more realistically priced it may result in a perk up in usage in canola,” said a Winnipeg based trader.
The Canadian dollar is stronger today, which is providing some pressure on canola contracts.
About 19,700 canola contracts had traded as of 10:25 CST.

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