ICE canola little changed as U.S. equity markets take beating

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, Jan. 3, 2018 (CNS Canada) – ICE Futures canola contracts were trading both sides of unchanged at midday Thursday, as United States’ equity markets were getting hammered.
Chicago Board of Trade soybean, oil and meal contracts were stronger, as traders moved their positions out of the equity markets and into the commodity markets. U.S. equity markets are lower following a report from Apple Inc. saying sales are down for the technology company, which has many concerned this is a sign of a slowing global economy.
The downturn in the equity markets is pushing metals like gold higher, which is supportive for the Canadian dollar (CAD). The stronger CAD is pressuring canola contracts.
About 7,400 canola contracts had traded as of 10:30 CST.

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