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Canola futures fall on forecasts for good harvest weather

Published 2018-10-12, 03:39 p/m
Updated 2018-10-12, 03:40 p/m
Canola futures fall on forecasts for good harvest weather

Canola futures fall on forecasts for good harvest weather

Oct 12 (Reuters) - ICE canola futures prices fell for the fourth day in a row on Friday, pressured by forecasts for dry and warm weather that should allow farmers to increase their harvest pace in the coming days, traders said.

* Canola futures RSv1 have shed 1.3 percent during the four-session losing streak.

* The benchmark November contract RSX8 closed below its 40-day moving average for the first time since Oct. 1.

* But technical buying lent support after the contract fell below its 20-day and 30-day moving averages and the market closed above its session lows.

* November canola RSX8 settled $1.80 lower at $494.70 per tonne.

* November soybeans SX8 rose 9-1/4 cents to $8.67-1/2 a bushel. SOY/C

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