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ICE canola futures rise on soy strength, harvest delays

Published 2018-09-25, 02:38 p/m
ICE canola futures rise on soy strength, harvest delays
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WINNIPEG, Manitoba, Sept 25 (Reuters) - ICE canola futures rose on Tuesday, lifted by strength in soybeans and soyoil, and concerns about harvest delays.

* Canola seen trading in a tight range with prices for the crop considered high relative to soybeans.

* But uncertainty about production, with recent rain and snow delaying the harvest in Western Canada, adds support to prices, a trader said.

* November canola RSX8 gained $1.60 to $490.90 per tonne.

* The November-January canola spread traded 1,647 times.

* Chicago November soybeans SX8 gained on bargain-buying and export demand hopes. November Paris Matif rapeseed futures /COMX8 and Malaysian November palm oil futures /1FCPOX8 rose.

* The Canadian dollar CAD= was trading at $1.2947 to the U.S. dollar, or 77.24 U.S. cents at 12:51 p.m. CDT (1751 GMT).

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