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ICE Canada canola weak on technicals, soy declines

Published 2015-08-19, 03:04 p/m
ICE Canada canola weak on technicals, soy declines

(All figures in Canadian dollars unless noted)
Aug 19 (Reuters) - ICE Canada canola futures 0#RS: fell to
fresh 2-1/2-month lows on Wednesday on technical selling that
followed steep declines in soybean prices 0#S: , traders said.
* The looming harvest and worries that China's currency
devaluation could limit export demand also weighed. But canola
futures trimmed losses late on a round of light short-covering
by speculative investors, traders said.
* November canola RSX5 lost $1.30 to $473.40 per tonne,
after earlier falling to $469.10, the lowest since May 29. The
contract continued to trade below its 100-day moving average.
* January canola RSF6 fell 50 cents to $473.30 per tonne
while the November-January spread traded about 2,200 times.
* Chicago November soybeans SX5 fell to a contract low
amid U.S. rains that could boost production. SOY/C
* Malaysian October palm oil 1FCPOV5 and NYSE Liffe Paris
November rapeseed COMX5 each declined.
* The Canadian dollar CAD= traded at $1.3112, or 76.27
U.S. cents, at 1:55 p.m. CDT (1855 GMT).

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