ICE canola down in morning trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Nov. 9, 2018 (CNS Canada) – ICE Futures canola contracts were slightly weaker Friday morning.
Chicago Board of Trade soybeans and oil contracts were also down, while soymeal contracts were up. Soybean contracts dropped Thursday after the United States Department of Agriculture reduced its export outlook, pressuring the market.
Canola deliveries were slightly lower than in weeks past but are still solid for this time of year, according to the latest data from the Canadian Grain Commission. Weekly exports were down, which caused overall commercial stocks to grow.
The Canadian dollar dropped below the 76 U.S. cents mark Friday morning.
The canola market will be closed Monday, Nov. 12 in lieu of the Remembrance Day holiday, while American markets will be open.
About 1,500 canola contracts had traded as of 8:32 CST Friday morning.

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