ICE canola jumping around in morning trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 15, 2018 (CNS Canada) – ICE Futures
canola contracts were trading to both sides of Wednesday
morning, in choppy low volume activity.
Chicago Board of Trade soybeans, soyoil and meal contracts
were all lower in morning trade, after yesterday’s significant
upsurge on commercial buying.
Traders are still concerned that the recent hot weather in
Western Canada has affected canola production.
Argentina announced Tuesday that it would suspend its
program of gradually lowering export taxes on soyoil and meal
for the next six months. This was bullish for North American
oilseed prices.
The Canadian dollar is weaker today, which limiting losses
for canola contracts.
About 800 canola contracts had traded as of 8:43 CDT
Wednesday morning.

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