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ICE canola futures dip, pulled down by U.S.-China trade angst

Published 2019-05-09, 02:31 p/m
ICE canola futures dip, pulled down by U.S.-China trade angst
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WINNIPEG, Manitoba, May 9 (Reuters) - ICE (NYSE:ICE) canola futures eased on Thursday, weighed down by weakness in soy prices that was due to worries about trade talks between Washington and Beijing.

* Canola was underpinned by weakness in the Canadian dollar.

* Canola looks to remain weak as farmers and investors have been quick to sell any rallies, a market analyst said.

* July canola RSN9 shed 80 cents to $436.70 per tonne.

* July-November canola spread traded 1,699 times.

* U.S. soybean futures tumbled to their lowest prices in more than a decade as traders worried that make-or-break trade talks between Washington and Beijing would fail to produce a deal. GRA/

* Overall planting in the Canadian province of Saskatchewan is slightly behind the usual pace. Some 10% of the canola is in the ground, the provincial government said. GRO/SAS

* Paris Matif August rapeseed futures /COMQ9 and Malaysian July palm oil futures /1FCPON9 slipped.

* The Canadian dollar CAD= weakened to a two-week low against the greenback as domestic data showed a wider-than-expected trade deficit and on fears about the U.S.-China trade dispute. CAD/

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