ICE canola up with soybeans

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, July 23, 2018 (CNS Canada) – ICE Futures
Canada canola contracts were higher Monday morning, following
the lead of Chicago Board of Trade (CBOT) soybeans.
CBOT soymeal was also higher, while oil was lower.
One of the largest soybean importers and crushers in China,
Sunrise, has filed for bankruptcy. Crush margins in China are
reported as being negative as a result.
Hot and dry conditions across the Prairies are keeping a
weather premium in the market. However crop conditions are still
mostly favourable across Western Canada.
The Canadian dollar is steady against its United States
counterpart, after gaining in value on Friday.
About 1,900 canola contracts had traded as of 8:43 CDT
Monday morning.

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