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ICE Canada canola futures rise on short-covering, soy strength

Published 2018-08-14, 02:41 p/m
ICE Canada canola futures rise on short-covering, soy strength

WINNIPEG, Manitoba, Aug 14 (Reuters) - ICE Canada canola futures rose on Tuesday, boosted by short-covering and strength in soy markets.

* Funds bought an estimated 1,000 contracts, reducing their net short position to 19,000 November contracts, a trader said.

* Commercial hedges were seen limiting canola's gains.

* November canola RSX8 rose $2.60 at $507.60 per tonne.

* The November-January canola spread traded 1,787 times.

* Chicago November soybeans SX8 gained on a technical recovery. November Paris Matif rapeseed futures /COMX8 and Malaysian October crude palm oil 1FCPOV8 rose.

* The Canadian dollar CAD= was trading at $1.3083 to the U.S. dollar, or 76.44 U.S. cents at 12:41 p.m. CDT (1741 GMT).

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