By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Dec. 6, 2018 (CNS Canada) – ICE Futures canola contracts are stronger this morning, following the release of the latest Statistics Canada production numbers.
Total canola production for the year came in at 20.343 million tonnes, which is below the previous estimate from Statistics Canada reports and on the lower end of trade predictions.
The Canadian dollar is weaker this morning which is supportive for canola contracts.
Chicago Board of Trade soybean, oil and meal contracts are all weaker this morning. There is trouble brewing between the United States, Canada and China. Canada arrested the chief financial officer of China’s Huawei Technologies yesterday. She now faces extradition to the U.S. on suspicion she violated U.S. trade sanctions against Iran. This could cause trouble in relations between the North American countries and China.
About 7,200 canola contracts had traded as of 8:48 CST Thursday morning.
Commodity Future Prices
updated 2018-12-06 08:54
Prices are in Canadian dollars per metric ton