Stats Can report pushes canola higher

By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 31, 2018 (CNS Canada) – ICE Futures
canola contracts were stronger Friday morning, after a bullish
production report from Statistics Canada was released.
The production of principal field crops report from
Statistics Canada, released earlier this morning, pegged canola
production for this year at 19.2 million tonnes. That was on the
lower end of pre-report estimates of 18.1 to 21.3 million
tonnes. The survey for the report was done at the end of July
before the hot weather hit Western Canada, meaning production
could have changed since then.
Chicago Board of Trade soybeans contracts were higher,
while soyoil and meal contracts were trading both sides of
unchanged.
The Canadian dollar was weaker Friday morning, pressured by
news that North American Free Trade Agreement talks had turned
sour between the United States and Canada and that a deal may
not be reached today.
About 5,600 canola contracts had traded as of 8:50 CDT
Friday morning.

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