ICE canola up with soy

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Dec. 18, 2018 (CNS Canada) – ICE Futures canola contracts are stronger in morning trade, following the lead of the soy complex.
Chicago Board of Trade soybean, oil and meal contracts are also all stronger. While there have not been anymore soybean purchases from China, United States President Donald Trump confirmed yesterday in a tweet that the second Market Facilitation Program (MFP) payment is on the way for U.S. farmers.
Commercial demand for canola is starting to pick up, which is supportive for canola contracts.
The Canadian dollar is weaker this morning, which is supportive for the canola market.
About 5,700 canola contracts had traded as of 8:49 CST Tuesday morning.

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