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ICE canola futures post biggest gain in nearly 2 weeks

Published 2018-11-28, 02:41 p/m
ICE canola futures post biggest gain in nearly 2 weeks
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WINNIPEG, Manitoba, Nov 28 (Reuters) - ICE (NYSE:ICE) canola futures rose on Wednesday, notching their biggest percentage gain in nearly two weeks, on stronger U.S. soy markets linked to trade optimism, and canola buying by commercial traders.

* U.S. President Donald Trump is due to meet this week with Chinese counterpart Xi Jinping for the first time since the world's two largest economies imposed punitive tariffs on each other's imports. Canola's gains were limited by hedge selling, as commercials traded both sides of the market, a trader said.

* January canola RSF9 gained $5.40, or 1.1 percent, to $479.20. It was the biggest percentage gain for a nearby contract since Nov. 15.

* March canola RSH9 added $4.70 to $486.70.

* Chicago January soybeans SF9 gained on short-covering ahead of the G20 summit. February Paris Matif rapeseed futures /COMG9 rose and Malaysian February palm oil futures /1FCPOG9 tacked on nearly 3 percent.

* The Canadian dollar CAD= was trading at $1.3250 to the U.S. dollar, or 75.47 U.S. cents at 1:06 p.m. CST (1906 GMT).

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