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ICE Canada canola ends up, following Chicago soy

Published 2015-07-21, 03:26 p/m
ICE Canada canola ends up, following Chicago soy

(All figures in Canadian dollars unless noted)
July 21 (Reuters) - ICE Canada canola futures rose Tuesday
on a technical bounce from a series of lower closes during the
past week and spillover fund buying from Chicago soybean
futures, traders said.
* November canola RSX5 closed $2.90 per tonne higher at
$519.80, retreating after breaking through nearby support at
Monday's high of $521.80.
* Canola has been under pressure after recent rains in the
parched western Canadian Prairies stabilized the crop and
spillover fund selling from the Chicago soy futures over the
past week, traders said.
* But concerns continue about the Canadian canola crop as
the rains may have come too late to improve yields, traders
said.
* This week the market research unit of CWB, formerly the
Canadian Wheat Board, is hosting a crop tour across Canada's big
crop regions. Scouts are inspecting fields and will release
yields estimates for canola as well as spring wheat and durum on
Friday. ID:nL1N0ZC2AC
* Chicago November soybeans SX5 ended 5-1/4 cents higher
at $10.04-3/4, rebounding from fund selling.
* Malaysian November palm oil 1FCPOX5 and NYSE Liffe Paris
November rapeseed COMX5 also closed higher.
* The Canadian dollar CAD= was trading at $1.2959, or
77.02 U.S. cents, at 2 p.m. CT (1900 GMT), up slightly from the
Bank of Canada's official close of $1.2997, or 76.94 U.S. cents,
on Monday.

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