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ICE canola futures edge higher on soggy U.S. weather

Published 2019-06-20, 02:42 p/m
Updated 2019-06-20, 02:50 p/m
ICE canola futures edge higher on soggy U.S. weather

WINNIPEG, Manitoba, June 20 (Reuters) - ICE (NYSE:ICE) canola futures edged higher on Thursday, lifted by a boost in U.S. corn and soy prices on rainy Midwest weather.

* Canola's gains were limited by strength in the Canadian dollar and some beneficial rains reaching the Canadian Prairies, a trader said. The dollar CAD= strengthened to a five-month high against its U.S. counterpart as oil prices climbed. CAD/

* Traders and analysts surveyed by Reuters expect, on average, Canadian canola plantings of 20.7 million acres this year, down from early spring intentions and last year. Statistics Canada will report on Wednesday. Rains missed some dry areas of Saskatchewan in the past week, the provincial government said. 36% of oilseeds are at normal stage of development. GRO/SAS

* July canola RSN9 added 30 cents to $455.80 per tonne. The contract was in liquidation mode ahead of its expiry next month.

* Most active November canola RSX9 gained 40 cents to $469.70 per tonne.

* July-November canola spread traded 8,335 times.

* U.S. grain and soybean futures jumped on Thursday on concerns over persistent rains threatening crop yields. GRA/

* Paris Matif August rapeseed futures /COMQ9 edged higher and Malaysian September palm oil futures /FCPOU9 dipped.

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