ICE canola up with soy

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 20, 2018 (CNS Canada) – ICE Futures
canola contracts were higher Monday morning.
Chicago Board of Trade soybeans and soyoil contracts were
all on the rise, while meal contracts were down. Palm oil and
European rapeseed contracts were higher also.
Continued optimism over the future of trade relations
between China and the United States is supporting markets.
Concern over the heat wave that swept across Western Canada
during the last few weeks is still keeping a weather premium in
the market as the condition of the canola crop is uncertain.
However the heat wave has finally broken with forecasts calling
for rain later in the week, which could slow down harvest
progress.
About 1,600 canola contracts had traded as of 8:39 CDT
Monday morning.

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