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ICE canola down with soybeans

WINNIPEG, MB, June 13, 2018 (CNS Canada), Jun 13, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

ICE Futures Canada canola contracts were lower Wednesday, following the lead of soybean markets on the Chicago Board of Trade (CBOT).

CBOT soybeans were firmer yesterday following the release of the latest United States Department of Agriculture reports. But demand is now muted and negative technicals are dragging down the market.

The Canadian dollar was higher, which weighed on the canola market.

While the majority of Prairie crops have received enough rain, southern Alberta and southwestern Saskatchewan need moisture.

About 8,800 canola contracts had traded as of 8:59 CDT.

Prices in Canadian dollars per metric tonne at 8:59 CDT:

                          Price      Change
Canola            Jul     514.40    dn  2.60
                  Nov     507.80    dn  3.20
                  Jan     514.20    dn  3.30
                  Mar     521.40    unchanged

Ashley Robinson, Commodity News Service Canada

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