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ICE Canada canola ends up on crop concerns, C$

Published 2015-07-22, 04:13 p/m
ICE Canada canola ends up on crop concerns, C$

(All figures in Canadian dollars unless noted)
July 22 (Reuters) - ICE Canada canola futures ended higher
for the second straight day on Wednesday amid reports from an
annual industry crop tour that this summer's heat and dryness
across the Western Canadian Prairies cut canola yields, traders
said.
* Additionally, weakness in the Canadian dollar - falling to
a six-year low versus the U.S. dollar - led to speculative
buying in canola. In contrast, Chicago soybeans ended mostly
lower as the U.S. dollar rose.
* November canola RSX5 ended $1 per tonne higher at
$520.80, backing off the session high of $524.20 going into the
close.
* A tour organized by CWB Market Research Services, formerly
the Canadian Wheat Board, reported late Tuesday on the first day
of the excursion, that most canola fields in southeastern
Alberta look to produce below-average yields given a dry growing
season. Scouts are inspecting fields and will release yield
estimates for canola as well as spring wheat and durum on
Friday. ID:nL1N10116U ID:nL1N1021KU
* Chicago November soybeans SX5 ended 9-1/4 cents lower at
$9.95-1/2.
* Malaysian November palm oil 1FCPOX5 and NYSE Liffe Paris
November rapeseed COMX5 also closed lower.
* The Canadian dollar CAD= was trading at $1.3036, or
76.71 U.S. cents, at 2:50 p.m. CT (1950 GMT), down from the
Bank of Canada's official close of $1.2970, or 77.10 U.S. cents,
on Tuesday.

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