ICE canola down as U.S. markets reopen

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Nov. 23, 2018 (CNS Canada) – ICE Futures canola contracts are weaker Friday morning trade.
Chicago Board of Trade soybean and oil contracts are slightly weaker, while meal contracts are stronger. CBOT contracts have a short trading day with no overnight trade having happened due to the Thanksgiving holiday. The market will close shortly after 12:00 CST.
Trading is expected to be choppy today due to the shortened United States trading session and the expiry of the December soy options.
Concern about next week’s G20 summit and the meeting between the U.S. and China is still weighing on oilseed markets. Some traders are optimistic though that a deal will be reached.
The Canadian dollar is weaker this morning, which is limiting losses for the canola market.
About 2,800 canola contracts had traded as of 8:45 CST Friday morning.

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