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ICE Canada canola tumbles to 2-month low on technicals, China worries

Published 2015-08-18, 03:15 p/m
ICE Canada canola tumbles to 2-month low on technicals, China worries

(All figures in Canadian dollars unless noted)
Aug 18 (Reuters) - ICE Canada canola futures 0#RS: fell
more than 2 percent to their lowest in 2-1/2 months on Tuesday,
pressured by technical selling and worries that China's currency
devaluation could result in reduced export demand, traders said.
* Largely benign weather for the developing crop in the
Canadian Prairies also weighed, with investment funds possibly
switching soon to net short from a narrow net long, the traders
said.
* November canola RSX5 lost $10.50 to $475.00 per tonne.
The contract extended losses after falling below its 100-day
moving average.
* January canola RSF6 also fell $10.50 to $474.10 per
tonne.
* Chicago November soybeans SX5 were sharply lower
following U.S. rains that could boost production. SOY/C
* Malaysian October palm oil 1FCPOV5 was flat and NYSE
Liffe Paris November rapeseed COMX5 fell.
* The Canadian dollar CAD= traded at $1.3061, or 76.56
U.S. cents, at 2:06 p.m. CDT (1906 GMT).

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