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ICE Canada canola rises on harvest delays, weak dollar

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By Shoaib Ur Rehman

imageWINNIPEG: ICE Canada canola futures rose on Tuesday as rains in Western Canada delayed the harvest, slowing commercial hedge selling.

Weakness in the Canadian dollar added support. The Canadian dollar was trading at $1.3195 to the US dollar, or 75.79 US cents at 1:18 p.m. CDT (1818 GMT), lower than Monday's close of $1.3110, or 76.28 US cents.

November canola added $1.10 at $467 per tonne.

January canola gained $1.10 at $474.70.

May-July canola spread traded a busy 3,330 times.

Chicago November soybeans dipped on US harvest progress and rising yield expectations.

NYSE Liffe November rapeseed and Malaysian November crude palm oil fell.

Copyright Reuters, 2016

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