ICE canola stronger in morning trade

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Jan. 8, 2019 (CNS Canada) – ICE Futures canola contracts were mostly stronger in Tuesday morning, following the lead of soyoil.
Chicago Board of Trade soybean contracts are mixed, while soyoil and meal contracts are mostly stronger. While weekly soybean export inspections yesterday were in line with estimates at 673,172 tonnes, but there are still questions about Chinese demand. However, reports circulated yesterday that China bought at least three cargos (180,000 tonnes) of United States soybeans.
There is some trade optimism for canola as China has approved five GMO crops for import, including two canola varieties that had been pending for six years.
About 1,400 canola contracts had traded as of 8:48 CST Tuesday morning.

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