ICE canola unchanged ahead of USDA reports

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, June 12, 2018 (CNS Canada) – ICE Futures
Canada canola contracts were largely unchanged Tuesday morning,
ahead of a number of United States Department of Agriculture
reports (USDA).
Chicago Board of Trade markets positioned themselves ahead
of the crop production and WASDE reports from the USDA to be
released later Tuesday morning. Soybeans and soymeal were
trading higher, while soy oil was lower.
The Canadian dollar was unchanged in overnight trade, which
was limiting gains for canola.
Crop conditions in Western Canada are still a worry, which
is supportive for the canola market. Even though many areas
received needed rains over the last two weeks, there are some
that received too much and others have not received any.
About 4,300 canola contracts had traded as of 8:48 CDT.

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