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ICE Canada canola hits 1-month top, led by global vegoil strength

Published 2016-03-22, 04:22 p/m
ICE Canada canola hits 1-month top, led by global vegoil strength

(All figures in Canadian dollars unless noted)
March 22 (Reuters) - ICE Canada canola futures closed higher
on Tuesday on fund-driven technical buying and spillover
strength from global vegetable oil markets, traders said.
* Market pared gains and settled off its highs as moderate
farmer canola selling emerged above $474 per tonne in the May
contract.
* Most-active May canola RSv1 settled up $3.60 at $473 a
tonne on volume of 15,151 contracts, after trading as high as
$476, its highest since Feb. 17.
* July canola RSN6 ended up $3.50 at $477.60 per tonne on
volume of 6,309 contracts.
* Malaysian palm oil futures rose to a two-year high on
improving exports and worries about lower output due to an El
Nino weather pattern. May palm oil 1FCPOK6 settled up 0.9
percent and NYSE Liffe Paris May rapeseed COMK6 rose 1.6
percent.
* Chicago Board of Trade soybeans Sv1 hit a five-month
high on technical buying while soyoil BOv1 futures reached
their highest in nearly nine months.
* The Canadian dollar CAD= was trading at $1.3031 to the
greenback, or 76.74 U.S. cents as of 3:11 p.m. CDT (2011 GMT),
firmer than the Bank of Canada's official Monday close of
$1.3085, or 76.42 U.S. cents.

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