ICE canola down to start the week

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 27, 2018 (CNS Canada) – ICE Futures
canola contracts were lower Monday morning, as crop tour results
and trade news weighed on the market.
Chicago Board of Trade soybeans, soyoil and meal contracts
were all down too.
The ProFarmer crop tour last week has been bearish on
markets, as it offered little indication for a downturn in
United States corn and soy production.
News that the U.S. and Mexico could reach a new North
American Free Trade Agreement (NAFTA) this week is also
impacting the markets. However Canada, the third NAFTA member,
has been left out of this latest trade development.
Rain and cool weather has descended on parts of Alberta,
which could delay harvest there.
About 3,300 canola contracts had traded as of 8:42 CDT
Monday morning.

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