Markets

ICE canola falls on US, euro debt crises

Published Updated

* Technical selling may have added to weakness, but the day's low didn't penetrate January support at $511.50.

* Lack of crusher buying, after recent purchases, and modest commercial hedges seen adding to negative tone, even with Canadian dollar sharply lower.

* January canola futures lost $6.20 or 1.2 percent at $512.50 on volume of 8,777 contracts.

* March tumbled $6.60 at $518.10 on volume 4,076.

* Chicago January soybeans lost 20-1/4 US cents or 1.7 percent to US$11.48 per bushel, pressured by increasing concerns about the euro debt crisis and potential failure of a US debt reduction plan.

* MATIF February rapeseed fell 1.3 percent.

* The Canadian dollar was trading at $1.0382 or 96.32 US cents, down from Friday's North American session close at $1.0272, or 97.35 US cents.

* US crude oil fell 0.8 percent at US$96.92 per barrel. [O/R]

* ICE Canada restores margins after temporary cut.

* COFCO now China's leading rapeseed processor - Xinhua.

Copyright Reuters, 2011