ICE canola market up at midday with soybeans

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Nov. 15, 2018 (CNS Canada) – ICE Futures canola contracts were up at midday, following the lead of soybean futures.
Chicago Board of Trade soybean contracts are stroger on reports of progress with United States and China trade talks. However, canola is pretty “lifeless” with the January contract hanging out around the C$480 per tonne mark, according to a Winnipeg-based trader.
“I don’t expect that to change too quickly unless we get some either positive or negative news on these talks as they get ready for the G20 at the end of the month,” he said.
Dollar isn’t doing much he added; it’s just flat-lining. The guidance right now for the canola market is just basically soybeans.
About 8,700 canola contracts had traded as of 10:16 CST.
Prices in Canadian dollars per metric tonne at 10:16 CST:
Price Change
Canola Jan 480.00 up 1.80
Mar 487.80 up 2.20
May 495.60 up 2.30
Jul 500.90 up 2.20

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