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ICE canola futures rise, sparked by rapeseed gains

Published 2019-08-20, 03:04 p/m
Updated 2019-08-20, 04:33 p/m

WINNIPEG, Manitoba, Aug 20 (Reuters) - ICE (NYSE:ICE) canola futures rose on Tuesday, boosted by a steady recent climb in European rapeseed prices.

* Limited farmer selling to the cash market also underpins canola, along with funds holding a large short position, a trader said.

* November canola RSX9 gained $1.20 to $451.40 per tonne in thin volume.

* November-January canola spread traded 1,899 times.

* Chicago November soybeans SX9 rose on declining U.S. crop ratings and uncertain yield prospects. Paris Matif November rapeseed futures /COMX9 hit a nearly one-month high and Malaysian October palm oil futures /FCPOV9 also rose.

* The Canadian dollar CAD= weakened to a two-month low against its U.S. counterpart as investor appetite for risk eased and oil prices decreased. CAD/

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