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ICE canola futures ease as dollar weakens

Published 2018-09-05, 02:32 p/m
ICE canola futures ease as dollar weakens
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WINNIPEG, Manitoba, Sept 5 (Reuters) - ICE canola futures edged lower on Wednesday, but the losses were smaller than those of U.S. soy as the weak Canadian dollar lent support.

* November canola RSX8 shed 20 cents at $496.60 per tonne.

* Canola was also supported by thoughts that heat earlier in the summer damaged Western Canada's yields more than expected, a trader said. Frost this week was seen as likely to damage quality but not quantity.

* Statistics Canada is scheduled to estimate on Thursday stocks of canola and other Canadian crops as of July 31. Trade expects, on average, an estimate of 2.5 million tonnes of canola. The November-January canola spread traded 1,545 times.

* Chicago November soybeans SX8 dipped on ongoing U.S.-China trade tensions. November Paris Matif rapeseed futures /COMX8 and Malaysian November palm oil futures /1FCPOX8 eased.

* The Canadian dollar fell to a six-week low on Tuesday amid an uncertain trade arrangement with the United States. The Canadian dollar CAD= was trading at $1.3190 to the U.S. dollar, or 75.82 U.S. cents, at 1:02 p.m. CDT (1802 GMT).

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