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Markets

ICE canola climbs on US soy strength, export demand

Published Updated

 CHICAGO: ICE Canada canola futures closed higher on Thursday, supported by spillover from a rise in allied US soybeans along with exporterpricing, traders said.

* Crusher buying added support early in the session.

* November canola futures up $5.80 at $535.30 per tonne on volume of 8,312 contracts.

* January canola up $5.80 at $544.90 on volume of 11,400 contracts.

* The November/January spread traded 4,968 times at $9.20 to $9.90, premium January.

* CBOT November soybeans settled up 17-1/2 US cents at US$12.57 per bushel, gaining against corn on inter-market spreads a day after the US government trimmed its US soy crop and stocks estimates.

* The Canadian dollar was trading at $1.0186, or 98.17 US cents, at 2:23 p.m. CDT (1923 GMT), down from Wednesday's North American session close at $1.0173 to the US dollar, or 98.30 US cents. Earlier in the day the Canadian unit fell to $1.0272, or 97.35 US cents.

* MATIF November rapeseed down 0.35 percent.

* US crude oil down 1.6 percent at US$84.23 per barrel.

Copyright Reuters, 2011

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