ICE Canada Morning Comment: ICE Canola Falling With Soy Complex
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ICE canola futures fell Thursday morning, influenced by significant losses in Chicago soybeans and soyoil. China is unlikely to make new soybean purchases from the U.S., despite recent diplomatic meetings. Rising soybean production estimates from Brazil added bearish pressure on oilseed markets, including canola. The July canola contract dropped below its 20-day moving average, indicating a bearish trend. As of 9:51 a.m. ET, July canola was priced at CAD 742.90, down 4.90.
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