NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

ICE canola futures fall on commercial selling, weak demand in China

Published 2019-03-01, 04:34 p/m
ICE canola futures fall on commercial selling, weak demand in China
USD/CAD
-
ICE
-
RSc1
-

(All figures in Canadian dollars unless noted)

March 1 (Reuters) - ICE (NYSE:ICE) canola futures fell on Friday as weak Chinese demand for exports weighed on prices, while investors sold ahead of the weekend in the sixth consecutive session of losses.

* Poor demand from China has fueled worries and pressured prices amid souring Sino-Canadian relations.

* The dispute between China and Canada over the arrest of a Huawei executive is slowing canola shipments through Chinese ports, traders told Reuters in early February. China's rapeseed meal futures on Friday jumped more than 4 percent on worries that supplies would tighten as cargoes from Canada were said to be receiving higher scrutiny at ports. March canola RSH9 settled down $7.10 to $456.30 per tonne.

* Most-active May canola RSK9 ended down $7.90 to $461.30 per tonne. It earlier sank to $455.40 per tonne, a fresh contract low.

* Chicago May soybeans SK9 closed up 1-1/4 U.S. cents at US$9.11-1/2 per bushel. Paris Matif May rapeseed futures COMK9 fell 0.77 percent and Malaysian May palm oil futures 1FCPOK9 rose 3.21 percent.

* Canola traders shrugged off weakness in the Canadian dollar. The Canadian dollar CAD= was trading at $1.3292 to the U.S. dollar, or 75.23 U.S. cents, at 3:19 p.m. CST (1919 GMT).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.