ICE canola down in choppy trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Dec. 31, 2018 (CNS Canada) – ICE Futures canola contracts are mostly weaker Monday morning, after having traded higher earlier.
Chicago Board of Trade soybean and soyoil contracts are mixed, while meal contracts are stronger. United States President Donald Trump tweeted Saturday that he had a long and “very good” call with Chinese President Xi Jinping. The tweet led to trade optimism for the markets in overnight trade.
Trade could be choppy today as traders position themselves for year end and the New Year’s Day holiday.
There is some concern in the market that demand for Canadian canola has softened.
The markets will be closed tomorrow for the New Year’s Day holiday.
About 4,500 canola contracts had traded as of 9:02 CST Monday morning.

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