ICE Canada canola falls to 2-month low on technical selling

Published 2016-02-01, 02:38 p/m
ICE Canada canola falls to 2-month low on technical selling

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, Feb 1 (Reuters) - ICE Canada canola
futures fell on Monday to a more than two-month low in the
most-active March contract, pressured by technical selling.
* Stronger Canadian dollar and softer soy markets seen
adding to weakness.
* Funds have started a net short position, an analyst said.
* March canola RSH6 shed $4.30 at $471.10 per tonne.
* May canola RSK6 gave up $4.30 at $480.70 per tonne.
* March-May canola spread traded 6,256 times.
* Chicago March soybeans SH6 dipped on worries about
China's economy.
* Malaysian April palm oil 1FCPOJ6 dropped and NYSE Liffe
Paris May rapeseed COMK6 edged higher.
* The Canadian dollar CAD= was trading at $1.3952 to the
greenback, or 71.67 U.S. cents at 1:12 p.m. CST (1912 GMT),
higher than the Bank of Canada's official close of $1.4006, or
71.40 U.S. cents.

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