ICE canola up with soyoil

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Jan. 22, 2019 (CNS Canada) – ICE Futures canola contracts are stronger Tuesday morning, following the lead of soyoil.
Chicago Board of Trade soybean and meal contracts are weaker, while soyoil is stronger. United States markets were closed yesterday for Martin Luther King Jr. Day.
The Canadian dollar is weaker this morning, having dipped below the 75 U.S. cents mark. The weaker dollar is supportive for canola contracts.
The canola market has been trending weaker as following through selling has been lacking.
About 5,300 canola contracts had traded as of 8:45 CST Tuesday morning.

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