By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, May 22, 2018 (CNS Canada) – ICE Futures
Canada canola contracts were stronger at midday Tuesday, taking
strength from developments south of the border.
News a potential trade agreement could be reached between
the United States and China was supportive for Chicago Board of
Trade (CBOT) soybean contracts, providing spillover support to
canola.
However soymeal prices were down. According to Ken Ball, of
PI Financial in Winnipeg, it is unusual for soybean contracts to
be stronger with soymeal contracts not having moved.
Despite rains last week across Western Canada, large
swatches missed out which is limiting gains as concerns mount
about crop failure. Germination in some areas is quite poor and
moisture is needed.
About 7,000 canola contracts had traded as of 10:33 CDT.
ICE canola up with news of possible U.S./China deal
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