ICE Canada canola climbs on weak Canadian dollar, technical buying

Published 2016-05-03, 02:37 p/m
ICE Canada canola climbs on weak Canadian dollar, technical buying

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, May 3 (Reuters) - ICE Canada canola
futures rose on Tuesday, bucking a downtrend in other oilseeds
on supportive weakness in the Canadian dollar and technical
buying.
* Funds added to their net long position in the July
contract, and crushers were early buyers, a trader said.
* Traders and analysts see canola stockpiles, as of March
31, 12 percent lower year over year. GRO/CA Statistics Canada
reports on Friday.
* July canola RSN6 climbed $3.90 to $503.60 per tonne.
* November canola RSX6 gained $2.80 to $498.80 per tonne.

* ICE reported 418 May canola RSK6 deliveries, taking open
interest down to zero. Expiry is May 13.
* July-November canola spread traded 3,595 times.
* Chicago July soybeans SN6 dropped on profit-taking.

* NYSE Liffe August rapeseed COMQ6 and July Malaysian palm
oil 1FCPON6 both fell.
* The Canadian dollar CAD= was trading at $1.2710 to the
greenback, or 78.68 U.S. cents at 1:22 p.m. CDT (1822 GMT),
weaker than Monday's close at $1.2536 to the greenback, or 79.77
U.S. cents.

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