ICE canola stabilizing in morning trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Dec. 17, 2018 (CNS Canada) – ICE Futures canola contracts are steady to slightly weaker Monday morning, stabilizing following Friday’s losses.
Chicago Board of Trade soybean and meal contracts are stronger, while oil contracts are weaker. The market is quiet as it still awaits more soybean purchases from China.
Rain is on the way for the soybean crop in Brazil which was starting to look a bit dry. This should help the crop, which is still expected to be record large production, which is weighing on oilseed markets.
The Canadian dollar is weaker this morning, which is supportive for the canola market.
About 5,300 canola contracts had traded as of 8:53 CST Monday morning.

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