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ICE canola futures fall to 2-1/2-year low on technical selling

Published 2019-02-20, 02:38 p/m
Updated 2019-02-20, 02:40 p/m
ICE canola futures fall to 2-1/2-year low on technical selling

WINNIPEG, Manitoba, Feb 20 (Reuters) - ICE (NYSE:ICE) canola futures slipped on Wednesday, pressured by technical selling that pushed the nearby contract to a 2-1/2 year low.

* Most of the volume was inter-month spreading, as investors rolled positions forward from the March contract, a trader said.

* March canola RSH9 lost $2.80 to $470.90 per tonne, touching the lowest nearby price since July 2016.

* Most-active May canola RSK9 gave up $3 to $479.30 per tonne.

* March-May canola spread traded 8,105 times.

* Chicago March soybeans SH9 rose on technical buying. Paris Matif May rapeseed futures /COMK9 sagged and Malaysian May palm oil futures /1FCPOK9 eased.

* The Canadian dollar CAD= was trading at $1.3170 to the U.S. dollar, or 75.93 U.S. cents at 1:27 p.m. CST (1927 GMT).

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