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ICE canola futures rise on short-covering, dollar weakness

Published 2019-01-11, 02:54 p/m
Updated 2019-01-11, 03:00 p/m
ICE canola futures rise on short-covering, dollar weakness

ICE canola futures rise on short-covering, dollar weakness

WINNIPEG, Manitoba, Jan 11 (Reuters) - ICE (NYSE:ICE) canola futures rose on Friday, boosted by short-covering and weakness in the Canadian dollar.

* Technical selling dried up and canola's gains were further supported by strength in soy prices, a trader said.

* Most-active March canola RSH9 gained $2.80 to $483.30 per tonne.

* March-May canola spread traded 1,518 times.

* Chicago March soybeans SH9 rose on technical buying and a dry forecast for Brazil's crop. February Paris Matif rapeseed futures /COMG9 and Malaysian March palm oil futures /1FCPOH9 edged higher.

* The Canadian dollar CAD= was trading at $1.3264 to the U.S. dollar, or 75.39 U.S. cents at 1:48 p.m. CST (1948 GMT).

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