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ICE Canada canola rebounds on export demand ahead of StatsCan

Published 2015-08-20, 03:38 p/m
ICE Canada canola rebounds on export demand ahead of StatsCan

(All figures in Canadian dollars unless noted)
Aug 20 (Reuters) - ICE Canada canola futures 0#RS: jumped
1 percent on Thursday, rebounding from more than two-month lows
in the previous session on support from exporter buying ahead of
a government crop report due on Friday, traders said.
* Statistics Canada early on Friday was expected to cut
their production forecast for the canola crop due to dry and hot
growing conditions, a Reuters poll found, in the first such
forecast of the year. ID:nL1N10H2O4
* "It rarely pays to be short ahead of StatsCan, and there
was some export business overnight," a trader said.
* Worries that top importer China would slow purchases after
the country's currency devaluations last week has weighed on
prices in recent days. But the break to the lowest levels since
early June prompted some exporters to extend their own coverage,
the traders said.
* November canola RSX5 was up $5.50 to $478.90 per tonne.
* January canola RSF6 rose $5.60, also to $478.90.
* Chicago November soybeans SX5 rebounded from recent
lows, on bargain buying. SOY/C
* Malaysian October palm oil 1FCPOV5 was lower and NYSE
Liffe Paris November rapeseed COMX5 higher.
* The Canadian dollar CAD= traded at $1.3082, or 76.44
U.S. cents, at 2:29 p.m. CDT (1929 GMT).

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