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ICE canola futures rise with vegetable oils

Published 2020-09-01, 02:56 p/m
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(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, Sept 1 (Reuters) - ICE (NYSE:ICE) canola futures rose on Tuesday, resuming a steady march higher after snapping a six-day winning streak the previous session, on strength in palm and soyoil prices.

* Canola reversed earlier losses that may have been due to commercial hedges, a trader said.

* November canola RSX0 added $2.90 to $501.10 per tonne.

* November-January canola spread traded 5,117 times.

* U.S. corn and soybean futures consolidated after recent rallies, as questions lingered about the size of upcoming harvests. GRA/

* Euronext November rapeseed futures /COMX0 dipped and Malaysian November palm oil futures /FCPOX0 rose.

* Statistics Canada will report on Friday estimates of Canadian crop stockpiles as of July 31, 2020. Trade expects, on average, total canola stocks of 2.3 million tonnes, down from 3.8 million a year earlier.

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