ICE canola down with soy

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Published: January 29, 2019

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Jan. 29, 2019 (CNS Canada) – ICE Futures canola contracts are weaker in Tuesday morning trade, following the lead of the soy complex.
Chicago Board of Trade soybean, oil and meal contracts are all weaker. There is concern about mounting tensions between the United States and China. Trade talks between the countries are scheduled to start Wednesday, but the U.S. announced charges yesterday against Huawei for stealing trade secrets and violating U.S. sanctions on Iran.
There are reports filtering out of Brazil of low soybean yields which is limiting losses for North American oilseed markets. Consultancy agency, Agroconsult, is holding a crop tour this week in Brazil, which will give a better idea of yields.
Recent strength in the Canadian dollar is weighing on canola contracts.

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