ICE canola down slightly

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Oct. 30, 2018 (CNS Canada) – ICE Futures
canola contracts were slightly lower at midday Tuesday.
Chicago Board of Trade soybean, oil and meal contracts were
all weaker. The Canadian dollar was also down, which was
limiting losses for the canola market.
Trading is currently sideways, according to a Winnipeg-
based trader, and he doesn’t expect much to sway the market in
the upcoming days.
“It’s going to be just up and down, within a narrow range.
I don’t see any big move coming today. We could go back to the
plus side but the crush margin on canola’s not great,” he said.
He added that the crush is lagging behind where it was last
year at this time and canola exports are down a bit, but canola
is still relatively over-priced compared to other oilseeds.
About 8,600 canola contracts had traded as of 10:20 CDT.

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