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Canola futures ease after five days of gains

Published 2018-12-07, 02:59 p/m
Canola futures ease after five days of gains
ICE
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RSc1
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CHICAGO, Dec 7 (Reuters) - ICE (NYSE:ICE) canola futures fell on Friday, snapping a five-session winning streak on commercial hedging after farmers booked highs at the peaks.

* Canola futures struggled to hold technical support above the January contract's RSF9 50-day moving average, a trader said.

* Buying from crushers kept the declines in check.

* Funds began to roll their positions to the March canola futures contract RSH9 from the January contract.

* January canola RSF9 settled 60 cents lower at $485.50.

* The March canola contract RSH9 was down $1.00 at $492.30.

* Chicago January soybeans SF9 rose 7-1/4 cents to $9.16-3/4 a bushel.

* February Paris Matif rapeseed futures /COMG9 rose while Malaysian February palm oil futures /1FCPOG9 dipped.

* The Canadian dollar firmed against its U.S. counterpart on Friday as higher oil prices and data showing a record increase in domestic jobs bolstered expectations for further interest rate hikes from the Bank of Canada. CAD/

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