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ICE Canada canola ends lower after reaching 2-1/2-week high

Published 2016-03-11, 04:47 p/m
ICE Canada canola ends lower after reaching 2-1/2-week high

(All figures in Canadian dollars unless noted)
March 11 (Reuters) - ICE Canada canola futures closed lower
on Friday as a stronger Canadian dollar and light farmer selling
dragged down the May contract RSK6 after it set a 2-1/2-week
high, traders said.
* Most-active May canola RSv1 settled down $1.90 at
$463.40 per tonne after reaching $469.10, its highest since Feb.
23, a level that triggered light producer offerings.
* July canola RSN6 ended down $2.10 at $465.90 a tonne.
* The Canadian dollar CAD= settled at $1.3231 to the U.S.
dollar, or 75.58 U.S. cents, stronger than Thursday's official
close of $1.3346, or 74.93 U.S. cents. The Canadian unit hit a
four-month high against the greenback as oil prices rose and
broader risk appetite improved.
* Canola's decline bucked a firm trend in other global
oilseed markets. Chicago Board of Trade May soybeans SK6 rose
for an eighth straight session and CBOT May soyoil BOK6 also
closed higher.
* Malaysian May palm oil 1FCPOK6 jumped 2.4 percent while
NYSE Liffe Paris May rapeseed COMK6 rose 1.6 percent.

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