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ICE Canada canola ends lower on firm C$

Published 2016-04-11, 03:46 p/m
ICE Canada canola ends lower on firm C$
CL
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(All figures in Canadian dollars unless noted)
CHICAGO, April 11 (Reuters) - ICE Canada canola futures
drifted lower on Monday, pressured by a firmer Canadian dollar
and a lack of fresh export demand, traders said.
* But the market drew underlying support from routine
exporter pricing and a slow pace of farmer selling, they said.
* May canola RSv1 settled down 50 cents at $479.60 per
tonne on volume of 8,851 contracts.
* July canola RSN6 fell 20 cents to $485.30 a tonne on
volume of 8,204 contracts.
* May-July canola spread traded between $5.90 and $5.00,
premium July.
* Chicago May soybeans SK6 rose more than 1 percent on
technical buying as traders exited long soyoil/short soymeal
spread positions.
* Malaysian June palm oil 1FCPOM6 fell 0.5 percent and
NYSE Liffe May rapeseed COMK6 fell 0.7 percent.
* The Canadian dollar CAD= was trading at $1.2885 to the
greenback, or 77.61 U.S. cents, at 2:40 p.m. CDT (1940 GMT),
stronger than Friday's official close of $1.3002, or 76.91 U.S.
cents.
* The currency strengthened to an 11-day high against its
U.S. counterpart as higher crude oil prices improved the outlook
for Canada's economy ahead of the Bank of Canada'S midweek
interest rate announcement.

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