ICE Canada canola rises on slow farmer selling, soybean strength

Published 2015-10-06, 02:36 p/m
© Reuters.  ICE Canada canola rises on slow farmer selling, soybean strength

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, Oct 6 (Reuters) - ICE Canada canola rose
on Tuesday for the third straight session, lifted by slow farmer
selling and stronger soybeans.
* Much of the futures volume was seen tied to brisk options
activity and spread trades.
* Rain delays in Alberta and Saskatchewan during the weekend
slowed the harvest.
* Support seen around $481 for November contract. Reaching
that level may prompt technical traders to cover part of their
large short position, a trader said.
* November canola RSX5 gained $3.90 to $477.10 per tonne.
* January canola RSF6 added $4.20 to $481.90 per tonne.
* November-January spread traded 3,485 times.
* Chicago November soybeans SX5 rose on positioning ahead
of Friday's U.S. Department of Agriculture report. urn:newsml:reuters.com:*:nC3N0XP02I
* Malaysian November palm oil 1FCPOX5 fell and NYSE Liffe
Paris November rapeseed COMX5 rose.
* The Canadian dollar CAD= was trading at $1.3033, or
76.73 U.S. cents at 1:32 p.m. CDT (1832 GMT), up from Monday's
close at $1.3087 to the greenback or 76.41 U.S. cents.

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