ICE Canola Review: Canola down as buying interest slows

By Ashley Robinson, Commodity News Service Canada
Winnipeg, Jan. 14 (CNS Canada) – The ICE Futures canola contacts finished the day weaker, pulled down by weak demand for the crop.
Chicago Board of Trade soybean, oil and meal contracts were all down too. New customs data released from China this morning showed December soybean imports dropped 40.1 per cent from last year. However, soybean imports in November from the United States had plunged to zero, due to the U.S./China trade war.
There is concern about waning end user demand for canola coupled with weak farmer deliveries. With farm shows in Saskatoon and Brandon over the next few weeks, deliveries will continue to be down, according to a Winnipeg-based trader.

Read Also

North American Grain and Oilseed Review: Canola swings higher with soy

By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were stronger on Thursday, gleaning ample spillover…

Rain fell across southern Brazil over the weekend. The forecast is calling for more rain there this week, while the central and northern part of the country is expected to remain dry. There have been concerns about dryness in Brazil affecting the soybean crop there.
About 9,671 canola contracts traded, which compares with Friday when 11,229 contracts changed hands. Spreading accounted for 5,520 of the contracts traded.