ICE canola unchanged Monday

By Marlo Glass, MarketsFarm
WINNIPEG, August 6 (MarketsFarm) – The ICE Futures canola market was mostly unchanged on Monday morning, recovering after blows to the market over the long weekend.
In the latest move in the trade war between the United States and China, the U.S. government determined China has manipulated the yuan in order to devalue the U.S. dollar. This comes after President Donald Trump announced he would enact a 10 per cent tariff on more Chinese goods as of September 1.
The ongoing trade war hit soybean prices particularly hard, trading eight to 10 cents lower overnight. Prices have mostly recovered in early morning trade activity.
About 2,800 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 446.60 up 2.30
Jan 454.50 up 1.40
Mar 461.70 up 1.40
May 468.00 up 1.40

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