ICE Canada canola rises to 2-week high

Published 2016-06-08, 02:40 p/m
ICE Canada canola rises to 2-week high

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, June 8 (Reuters) - ICE Canada canola
futures climbed to a two-week high on Wednesday, pulled higher
by U.S. soy markets that got a boost from concerns about hot,
dry weather in the U.S. Midwest.
* Crusher buying added support to canola, but commercial
hedges limited gains at the day's highs, a trader said.
* July canola RSN6 gained $6 to $524 per tonne. Touched
high of $526.50, the loftiest nearby price since May 25.
* November canola RSX6 added $5.10 at $529.10 per tonne.
* July-November canola spread traded 6,880 times, with funds
moving more of their long position forward.
* Chicago soybeans jumped to their highest price in nearly
two years.
* NYSE Liffe August rapeseed COMQ6 rose and August
Malaysian palm oil 1FCPOQ6 slipped.
* The Canadian dollar CAD= was trading at $1.2713 to the
greenback, or 78.66 U.S. cents at 12:50 p.m. CDT (1750 GMT),
higher than Tuesday's close at $1.2771 to the greenback, or
78.30 U.S. cents.

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