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ICE canola futures follow soybeans higher

Published 2018-09-19, 02:35 p/m
Updated 2018-09-19, 02:40 p/m
© Reuters.  ICE canola futures follow soybeans higher

WINNIPEG, Manitoba, Sept 19 (Reuters) - ICE canola futures edged higher on Wednesday, pulled higher by a rally in soybeans.

* Canola's gains were limited by a higher Canadian government estimate of this year's harvest.

* Statistics Canada estimated canola production at 21 million tonnes, down from 21.3 million a year ago, using a model based on satellite and agroclimatic data. The new estimate exceeded the 19.2 million tonnes Statistics Canada reported on Aug. 31, using a farmer survey. SHRWCSMc2

* November canola RSX8 added 60 cents at $487 per tonne.

* The November-January canola spread traded 2,667 times.

* Chicago November soybeans SX8 rose in a rebound from Tuesday's contract low. November Paris Matif rapeseed futures /COMX8 and Malaysian November palm oil futures /1FCPOX8 slipped.

* The Canadian dollar CAD= was trading at $1.2931 to the U.S. dollar, or 77.33 U.S. cents at 1:14 p.m. CDT (1814 GMT).

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