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ICE canola futures ease in sideways trading

Published 2019-08-29, 02:35 p/m
© Reuters.  ICE canola futures ease in sideways trading
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WINNIPEG, Manitoba, Aug 29 (Reuters) - ICE (NYSE:ICE) canola futures eased on Thursday in lackluster, sideways trading.

* Differing ideas of the size and quality of the Canadian canola crop kept prices in a tight range, a trader said.

* Farmer selling as the harvest progresses will weigh on the market in coming weeks, offset somewhat if speculators start covering their large short positions, the trader said.

* November canola RSX9 eased 40 cents to $447.50 per tonne in thin volumes.

* Canola production looked set to reach 18.5 million tonnes, down 9% year over year, Statistics Canada said on Wednesday. GRO/CA

* 5% of canola has been swathed in Saskatchewan, the government of the Canadian province said. GRO/SAS

* Chicago November soybeans SX9 rose as traders worried about the risk of frost damage to this year's late planted U.S. crops. GRA/

* Euronext November rapeseed futures /COMX9 edged higher and Malaysian November palm oil futures /FCPOX9 dipped.

* The Canadian dollar CAD= gained against its U.S. counterpart as oil prices rose and data showed that the country's current account deficit was the lowest in the second quarter since 2008. CAD/

* Germany's rapeseed harvest will fall 21.9% on the year to about 2.9 million tonnes, the agriculture ministry said.

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