ICE canola

02 Sep, 2021

WINNIPEG, (Manitoba): ICE canola futures dropped on Tuesday for a 4th straight session, pressured by weakness in soy markets. Canola looks expensive compared with rival oilseeds, although it still has upside if Canadian farmers are reluctant to sell their harvest, which will be smaller due to drought, a trader said. Technical selling added to Nov canola’s drop when prices fell beneath the 20-day moving average, the trader said.

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