By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Dec. 7, 2018 (CNS Canada) – ICE Futures canola contracts are mostly weaker this morning. Trading has been choppy throughout the morning.
Chicago Board of Trade soybean, oil and meal contracts are all mostly stronger this morning. China’s commerce minister has said that China will start to immediately buy United States agricultural products, however traders are still skeptical and are looking for proof of intent.
The canola market has seen a small rally over the past few weeks and could be vulnerable to profit taking.
The Canadian dollar is stronger this morning, which is weighing on canola contracts.
About 8,300 canola contracts had traded as of 8:44 CST Friday morning.
Futures Prices as of December 7, 2018
Prices are in Canadian dollars per metric ton