ICE canola mixed as month end nears

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By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Oct. 29, 2018 (CNS Canada) – ICE Futures
canola contracts were mixed at midday Monday, taking direction
from a lower soybean market with a weaker Canadian dollar
limiting losses.
Chicago Board of Trade soybean, oil and meal contracts were
all weaker.
According to a Winnipeg based trader, it’s currently a
sideways market with range bound trade. But with month end
coming this week that could change.
“We could see some month end selling here as growers look
to maybe finance themselves for bills that will come due at the
end of the month,” he said, adding this could weigh on the
market.
There is also heavy liquidation as traders move interest
out of the soon to expire November contract and into the January
contract.
About 10,500 canola contracts had traded as of 10:48 CDT.

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