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ICE Canada canola rises, but loses for third week

Published 2015-08-28, 02:39 p/m
ICE Canada canola rises, but loses for third week

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, Aug 28 (Reuters) - ICE Canada canola
rose on Friday, supported by rising soyoil prices and buying by
crushers and exporters, but finished with a third straight
weekly loss.
* Light technical selling, tied to the November contract
trading below the 50-day moving average, limited gains.
* Year-over-year canola stocks as of July 31, 2015 are
estimated to have been sharply lower. Statistics Canada reports
on Sept. 3. ID:nL1N10W2FY
* Most-active November canola RSX5 gained $4.90 to $477.70
per tonne but lost 0.5 percent for the week.
* January canola RSF6 added $4.70 to $482.10 per tonne.
* November-January spread traded 2,280 times.
* Chicago September soyoil BOU5 , a vegetable oil
competitor to canola, jumped 3.4 percent. September soybeans
SU5 gained on short-covering and concerns about dryness in the
U.S. Midwest. ID:nC3N0XP01R
* Malaysian November palm oil 1FCPOX5 and NYSE Liffe Paris
November rapeseed COMX5 also climbed.
* The Canadian dollar CAD= was trading at $1.3232, or
75.57 U.S. cents at 1:23 p.m. CDT (1823 GMT), down slightly from
the Bank of Canada's official Thursday close of $1.3218, or
75.65 U.S. cents.
* Canada weekly canola crushings rise 3.8 percent. OILS/CA


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