ICE Canadian canola futures climbed on Tuesday for a second straight day, as optimism about export demand spurred short covering. Talk of cancelled shipments last week pressured prices, but thoughts that other buyers are stepping in with prices near multi-month lows lifted the market, a trader said. Limited farmer selling to the cash system was also noted as supporting prices.
May canola rose $7 to $495.70 per tonne. July canola gained $5.60 to $499.70 per tonne. May-July canola spread traded 5,053 times. Chicago Board of Trade May soybeans ended lower but stayed above Monday's five-month low. NYSE Liffe May rapeseed and June Malaysian palm oil rose.
Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017