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ICE canola futures fall for third day, pressured by stronger Canadian dollar

Published 2019-09-05, 02:44 p/m
Updated 2019-09-05, 03:04 p/m
© Reuters.  ICE canola futures fall for third day, pressured by stronger Canadian dollar

WINNIPEG, Manitoba, Sept 5 (Reuters) - ICE (NYSE:ICE) canola futures fell on Thursday for a third straight session, pressured by a stronger Canadian dollar and slumping soyoil prices.

* November canola RSX9 lost $1.20 to $445.30 per tonne.

* Harvesting in Saskatchewan is behind schedule, with only 1% of canola in the bin, the government of the Canadian province said. GRO/SAS

* Late Canadian harvest worries are not yet supporting the market, because canola supplies are abundant, a trader said.

* Statistics Canada will estimate on Friday crop stockpiles as of July 31, 2019. Trade expects, on average, canola stocks of 3.8 million tonnes, up from 2.5 million a year earlier. November-January canola spread traded 2,103 times.

* Chicago November soybeans SX9 dropped on technical selling and U.S. demand worries. Euronext November rapeseed futures /COMX9 ended unchanged and Malaysian November palm oil futures /FCPOX9 eased.

* The Canadian dollar CAD= strengthened to a three-week high against its U.S. counterpart, adding to gains after the Bank of Canada's interest rate decision the day before, as hopes rose of trade tensions easing between the United States and China. CAD/

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