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ICE Canada canola weak on technicals; cool temps cap losses

Published 2015-08-17, 03:05 p/m
ICE Canada canola weak on technicals; cool temps cap losses

(All figures in Canadian dollars unless noted)
Aug 17 (Reuters) - ICE Canada canola futures 0#RS: were
slightly lower on Monday, pressured by light technical selling
even as cool temperatures could slow crop growth in the Canadian
Prairies, traders said.
* Unseasonably cool conditions and the slight risk of frost
late this week in northern portions Alberta and Saskatchewan
underpinned prices. Investors also expected Statistics Canada on
Friday to estimate a canola harvest of 13.6 million tonnes, down
13 percent from last year.
* However, overall weakness in soybean prices 0#S:
anchored the canola market.
* November canola RSX5 lost $1.20 to $485.30 per tonne.

* January canola RSF6 shed 30 cents to $484.90 per tonne.
* Chicago November soybeans SX5 were narrowly higher on
bigger-than-expected U.S. crushing data. SOY/C
* Malaysian October palm oil 1FCPOV5 rose and NYSE Liffe
Paris November rapeseed COMX5 fell.
* The Canadian dollar CAD= was trading at $1.3088, or
76.41 U.S. cents, at 1:58 p.m. CDT (1858 GMT).

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