ICE canola mixed due to lower loonie and Prairie rains

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, May 25, 2018 (CNS Canada) – ICE Futures
Canada canola contracts were mixed at midday Thursday, as a weak
Canadian dollar was offset by rains across Western Canada.
The weaker dollar is preventing canola from being dragged
down by lower Chicago Board of Trade soybean oil contracts. The
Canadian dollar is becoming an increasingly supportive factor
for canola, according to a Winnipeg-based trader.
Gains for canola contracts though are limited due to
widespread rains which fell across Western Canada Thursday
night. While not all areas received moisture, the coverage was
better than expected.
About 7,800 canola contracts had traded as of 10:32 CDT.

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