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ICE Canada canola climbs on technical buying, short-covering

Published 2018-04-19, 03:21 p/m
Updated 2018-04-19, 03:30 p/m
ICE Canada canola climbs on technical buying, short-covering

April 19 (Reuters) - ICE Canada canola futures rose on Thursday for a third straight session, buoyed by fund-driven technical buying and short-covering ahead of the start next week of the May RSK8 contract's delivery period, traders said.

* A lack of farmer selling added support.

* May canola RSK8 settled up $8 at $534.40 per tonne.

* July canola RSN8 gained $7.50 to $534.50 and new-crop November RSX8 ended up $5.50 at $519.70 a tonne.

* The May/July spread RSK8-N8 traded about 7,300 times between 50 cents under (premium July) and $2.90 over (premium May).

* Chicago Board of Trade soybean 0#S: futures fell as investors worried about buying demand from China despite a strong export report. CBOT May soybeans SK8 settled 4-1/2 cents lower at $10.37-1/4 a bushel. The Canadian dollar CAD= rose against its U.S. counterpart. CAD/

* NYSE MATIF May rapeseed COMK8 rose, while Malaysian June crude palm oil 1FCPOM8 fell 0.2 percent.

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