ICE canola down in morning trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Nov. 19, 2018 (CNS Canada) – ICE Futures canola contracts were weaker Monday morning, following the lead of soybean futures.
Chicago Board of Trade soybeans, oil and meal contracts were all down. There is concern over the China/United States trade war after U.S. Vice President Mike Pence took aim at China over the weekend. Pence said that the U.S. will continue to hold nations accountable for their “unfair” economic practices at the Asia-Pacific Economic Cooperation summit.
There is still some concern about the size and quality of the Canadian canola crop, while news out of South America has the continent preparing for record soybean production.
The Canadian dollar was hanging out below the 76 U.S. cents mark, helping to limit losses for the canola market.
About 3,200 canola contracts had traded as of 8:43 CST Monday morning.

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