By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 17, 2018 (CNS Canada) – ICE Futures
canola contracts were lower Friday morning, following the lead
of soybeans.
Chicago Board of Trade soybeans and meal contracts were
lower, while soyoil contracts were higher. Forecasts are calling
for ideal weather in the United States soybean area for the
crops final development stage.
Concerns are still there for traders about how last week’s
hot weather affected the canola crop, which is keeping a weather
premium in the market. Anecdotal reports from farms however, are
still pointing towards average yields.
There is concern that canola is still relatively expensive
compared to its counterparts.
About 3,900 canola contracts had traded as of 8:46 CDT
Friday morning.
ICE canola down with soy
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