By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, June 4, 2018 (CNS Canada) – ICE Futures
Canada canola contracts were down at midday Monday, as weekend
rains and a downturn on the Chicago Board of Trade (CBOT)
weighed on values.
Rains varied across Western Canada this weekend, with
Manitoba and eastern Saskatchewan receiving fairly heavy solid
rains and western Saskatchewan and parts of Alberta receiving
light rains. The mositure helped the Prairie crop situation to
improve, pressuring the canola market.
CBOT soybean contracts were also down at midday as traders
pulled speculative money out of the market. One Winnipeg-based
trader said the situation could be worse for canola, but it
isn’t fully in sync with the United States soybean contracts.
The Canadian dollar was also strong which weighed on
contracts.
About 14,000 canola contracts had traded as of 10:23 CDT.
ICE canola down with CBOT soybeans
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