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ICE canola declines for 3rd straight session, following US soy

CommoditiesSep 13, 2018 16:50
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ICE canola declines for 3rd straight session, following US soy

CHICAGO, Sept 13 (Reuters) - ICE canola futures fell on Thursday for a third straight session, following pressure in allied U.S. soybeans, but worries about snow stalling the canola harvest in Alberta lent underlying support, traders said.

* November canola RSX8 shed $1.80 to settle at $489.90 per tonne and stayed inside the previous day's trading range.

* The Saskatchewan canola harvest was 38 percent complete, according to Saskatchewan Agriculture's weekly crop report. Rain showers toward the end of the week slowed progress, particularly in eastern and northern regions. GRO/SAS

* The November-January canola spread RSX8-F9 traded 1,597 times between $6.20 and $6.70, premium January.

* Chicago November soybeans SX8 settled down 6-3/4 U.S. cents at US$8.33-1/4 per bushel on seasonal harvest pressure and concerns over a tariff fight with China. November Paris Matif rapeseed futures /COMX8 rose 0.2 percent and Malaysian November palm oil /1FCPOX8 rose 0.3 percent.

* The Canadian dollar CAD= was trading at $1.2998 to the U.S. dollar, or 76.93 U.S. cents at 1:18 p.m. CDT (1818 GMT) and firmed to a two-week high against its U.S. counterpart.

ICE canola declines for 3rd straight session, following US soy
 

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