ICE Canola Futures Recover from Losses as Soybean Markets Turn Around

Intercontinental Exchange (ICE) canola futures ended Friday's session steady to higher, recovering from earlier losses. The Chicago soybean and soyoil markets also turned around after US Trade Representative Jamieson Greer announced that a decision on trade talks between Presidents Donald Trump and Xi Jinping will be made on Monday.

However, the sharp decline in crude oil continued to pressure the vegetable oils, limiting gains in the Chicago Board of Trade. European rapeseed closed mixed, while Malaysian palm oil was weaker.

Statistics Canada reported a record August canola crush of 1.24 million tonnes, the second largest for any month. Canola exports for the week ended September 20 improved to 43,300 tonnes from virtually zero, with year-to-date exports rising to 752,900 tonnes compared to 627,400 a year ago.

The Canadian dollar eased back on Friday afternoon, trading at 70.69 U.S. cents, down from Thursday's close of 70.74.