ICE canola futures rises on dollar weakness

Parvez Jabri August 15, 2019

WINNIPEG: ICE canola futures rose on Wednesday, helped by weakness in the Canadian dollar.

* The Canadian dollar weakened to a one-week low against its US counterpart as oil prices dropped and investors worried about the global growth outlook.

* Crush margins have steadily improved, spurring commercial buying, a trader said. Fund selling, adding to their net short position, trimmed the gains, the trader said.

* November canola gained $1.30 to $450.20 per tonne.

* November-January canola spread traded 3,517 times.

* Chicago November soybeans fell on profit-taking and weakness in crude oil.

* Paris Matif November rapeseed futures and Malaysian October palm oil futures edged higher.

Copyright Reuters, 2019

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