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ICE canola futures end flat, weather concerns support

Published 2020-09-04, 02:56 p/m
ICE
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RSc1
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(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, Sept 4 (Reuters) - ICE (NYSE:ICE) canola futures ended unchanged on Friday, as weather-related concerns enabled them to shrug off spillover pressure from soyoil losses.

* Canola prices are underpinned by concerns about potential frost damaging immature Canadian crops, said Wayne Palmer, senior analyst at Exceed Grain Marketing.

* Statistics Canada reported total Canadian canola stockpiles of 2.7 million tonnes as of July 31, 2020. Trade expected, on average, stocks of 2.3 million tonnes, down from 3.8 million a year earlier. November canola RSX0 finished flat at $503.70 per tonne. The January contract RSF1 slipped.

* November-January canola spread traded 2,729 times.

* In the Canadian province of Alberta, 0.8% of the canola harvest was complete as of Sept. 1, the provincial government said. GRO/ALB

* Increasing Chinese demand lifted U.S. soybean futures Sv1 to their highest prices in more than two years. GRA/

* Euronext November rapeseed futures /COMX0 edged higher and Malaysian November palm oil futures /FCPOX0 fell.

* ICE canola trading will be closed on Monday for a North American holiday.

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