ICE canola down in morning trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Dec. 20, 2018 (CNS Canada) – ICE Futures canola contracts are weaker this morning.
Chicago Board of Trade soybean contracts are mixed, while oil contracts are weaker and meal contracts are stronger. The soybean market has been lackluster so far after Chinese sales; however there are reports that China could buy another two million tonnes of soybeans before Christmas.
Reports of dry weather in Brazil are starting to cause worry about the soybean crop there. The Brazilian state, Parana, has cut its soybean estimate from to 19.1 million tonnes from 19.6 million tonnes.
The Canadian dollar is weaker this morning, which is limiting losses for the canola market.
About 6,700 canola contracts had traded as of 8:99 CST Thursday morning.

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