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ICE canola futures dip for third day, pressured by lower soy

Published 2020-06-24, 02:33 p/m
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WINNIPEG, Manitoba, June 24 (Reuters) - ICE (NYSE:ICE) canola futures dipped on Wednesday, pressured by lower soybean prices and an increase in farmer canola sales to commercial buyers.

* Rain in forecasts for dry areas of southeast Saskatchewan and southwest Manitoba added to bearish sentiment, a trader said.

* Most active November canola RSX0 lost $2.80 to $471.50 per tonne.

* Canola prices were underpinned by tight supplies of top quality canola for the near term, a market source said.

* U.S. soybean futures eased and corn futures were mostly lower as forecasts for rains and limited crop-stressing heat across the Midwest farm belt bolstered production prospects. GRA/

* Euronext August rapeseed futures /COMQ0 and Malaysian September palm oil futures /FCPOU0 ended lower.

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