ICE canola futures dip on soy weakness, technical selling

Published 2019-01-10, 02:26 p/m
ICE canola futures dip on soy weakness, technical selling
USD/CAD
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ICE
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WINNIPEG, Manitoba, Jan 10 (Reuters) - ICE (NYSE:ICE) canola futures fell on Thursday, pressured by sagging soybean prices due to an absence of fresh Chinese purchases.

* Technical selling added to canola's declines, a trader said. The March contract is trading below its 50-, 100- and 200-day moving averages.

* Most-active March canola RSH9 lost $4.40 to $480.50 per tonne.

* ICE reported no deliveries of January canola ahead of the contract expiring on Monday.

* March-May canola spread traded 1,178 times.

* Chicago March soybeans SH9 fell on a lack of new Chinese demand and Brazil's crop forecast. February Paris Matif rapeseed futures /COMG9 edged higher and Malaysian March palm oil futures /1FCPOH9 slipped.

* The Canadian dollar CAD= was trading at $1.3241 to the U.S. dollar, or 75.52 U.S. cents at 12:55 p.m. CST (1855 GMT).

* Pacific trade deal spurs Canadian farm sales to Japan.

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