ICE canola market down with trade uncertainty

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Nov. 16, 2018 (CNS Canada) – ICE Futures canola contracts were down at midday Friday, as trade optimism had started to sour.
Chicago Board of Trade soybean and soyoil contracts were weaker, while meal contracts were stronger.
According to a Winnipeg-based trader the canola market is following the lead of soybeans which are being dragged down by weak soyoil contracts.
“I guess Trump is not saying anything very positive, so the enthusiasm for changes in trade outlook is probably diminishing,” he said.
There have been conflicting statements about tariff discussions with China coming from Trump administration officials, which has the market concerned about the future of trade between the two nations.
About 4,500 canola contracts had traded as of 10:35 CST.

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