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ICE canola futures rise on frost threat to crops

Published 2018-09-04, 02:36 p/m
ICE canola futures rise on frost threat to crops
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WINNIPEG, Manitoba, Sept 4 (Reuters) - ICE canola futures rose on Tuesday, supported by expectations of frost this week in Western Canada that could damage some crops.

* November canola RSX8 rose $1.20 at $496.80 per tonne.

* "Elevated frost risk" seen for Manitoba on Tuesday overnight, Canola Council of Canada said.

* Modest exporter pricing was countered by commercial hedges, a trader said.

* Statistics Canada is scheduled to estimate on Thursday stocks of canola and other Canadian crops as of July 31, 2018. Trade expects, on average, an estimate of 2.5 million tonnes of canola. The November-January canola spread traded 2,568 times.

* Chicago November soybeans SX8 last traded slightly higher. November Paris Matif rapeseed futures /COMX8 and Malaysian November palm oil futures /1FCPOX8 rose.

* The Canadian dollar CAD= was trading at $1.3173 to the U.S. dollar, or 75.91 U.S. cents at 12:57 p.m. CDT (1757 GMT).

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