ICE canola up as soy complex rebounds

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Jan. 23, 2019 (CNS Canada) – ICE Futures canola contracts are stronger Wednesday morning.
Chicago Board of Trade soybean, oil and meal contracts are all stronger, rebounding following Tuesday’s losses.
There is still hot and dry weather in Brazil, which many expect should reduce the size of the soybean crop. This is supportive for oilseed markets.
Crush margins are improving, so commercial buying of canola should pick up, according to participants.
The Canadian dollar is slightly weaker, which is supportive for canola contracts.
About 3,900 canola contracts had traded as of 8:42 CST Wednesday morning.

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