Markets

ICE canola futures slip on pressure from strong dollar

Published Updated

* November canola shed $1.90 at $491.70 per tonne.

* Traders shrugged at forecasts for snow in parts of Western Canada, as the remaining crop is well advanced, a trader said.

* The US Department of Agriculture on Wednesday issued a surprise increase to its corn harvest forecast because of expectations of record yields in key areas, and also pegged soybean yields at an all-time high.

* The November-January canola spread traded 1,947 times.

* Chicago November soybeans rose, rebounding from a contract low.

* November Paris Matif rapeseed futures and Malaysian November palm oil slipped.

* The Canadian dollar was trading at $1.2998 to the US dollar, or 76.93 US cents at 1:18 p.m. CDT (1818 GMT).

 

Copyright Reuters, 2018