ICE canola down as trade war intensifies

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, June 19, 2018 (CNS Canada) – ICE Futures
Canada canola contracts were mostly down Tuesday morning as the
United States and China trade war raged on. The nearby July
canola contract however was higher.
In the tit-for-tat trade war, U.S. President Donald Trump
fired back at China, announcing another 10 per cent in tariffs
on US$200 billion in Chinese imports late yesterday. Chicago
Board of Trade soybean contracts were down sharply this morning.
Palm oil, European rapeseed and the soy complex were all
lower, which dragged markets, including canola, down.
The Canadian dollar was weaker, which was providing some
support for the canola market and limiting losses.
About 8,700 canola contracts had traded as of 8:45 CDT.

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