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ICE canola futures rise on export, crusher demand to 7-year top

Published 2020-11-20, 02:44 p/m
ICE
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(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, Nov 20 (Reuters) - ICE (NYSE:ICE) canola futures rose on Friday for the eighth time in nine sessions, as export and crusher demand pushed the oilseed to a fresh seven-year high.

* Crush margins are "through the roof," a trader said, and added that canola looks relatively cheap to other oilseeds, adding further upside.

* January canola RSF1 gained $4.20 to $576.50 per tonne.

* January-March canola spread traded 4,924 times.

* U.S. soybean futures Sv1 rose for a sixth consecutive session and hit a four-year high on dry conditions in key South American crop areas and concerns about dwindling U.S. supplies. GRA/

* Euronext February rapeseed futures /COMG1 edged higher and Malaysian February palm oil futures /FCPOG1 dropped.

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