ICE canola weakens, realigning with soy

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, Dec. 14 2018 (CNS Canada) – ICE Futures canola contracts are weaker at midday Friday, correcting closer to soy values.
Chicago Board of Trade soybean and oil contracts are weaker, while meal contracts are mixed. Soybean contracts were down more yesterday.
“We’re running about $2 weaker than the U.S. markets today. But over the last few days we were running about $3 or $3 stronger, so we’re sort of just realigning a little bit right now I think with the U.S. action,” said a Winnipeg based trader.
He thinks the soybean rally may have peaked for now, despite more positive news on the China/United States trade war front.
About 15,500 canola contracts had traded as of 10:52 CST.

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