ICE canola down after strong rally

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 9, 2018 (CNS Canada) – ICE Futures
canola contracts were lower Thursday morning, following
yesterday’s rally.
Two days of strong gains for the canola market have left it
vulnerable to profit taking today.
The latest United States Department of Agriculture reports
are due out tomorrow. The reports will give updated supply,
demand and production numbers. Trade is expected to be choppy
today ahead of the reports.
Chicago Board of Trade soybean, soyoil and meal contracts
were all down, after U.S. export sales released this morning
were within expectations.
Palm oil and European rapeseed markets were also down this
morning.
About 2,300 canola contracts had traded as of 8:44 CDT
Thursday morning.

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