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ICE canola futures rises with soyoil, sticks in tight range

Published 2019-08-30, 02:44 p/m
ICE canola futures rises with soyoil, sticks in tight range
USD/CAD
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ICE
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WINNIPEG, Manitoba, Aug 30 (Reuters) - ICE (NYSE:ICE) canola futures rose with soyoil on Friday, but hovered in a tight trading range due to uncertainty about the Canadian harvest.

* Canola is "stuck in a void," and caught between thoughts among some investors that the Canadian harvest is bigger than Statistics Canada reported this week, and a lack of activity from funds who hold large short positions, a trader said.

* November canola RSX9 gained 50 cents to $448 per tonne in thin volume.

* Alberta crop conditions exceed the 5- and 10-year averages, the government of the Canadian province said. GRO/ALB

* ICE canola will not trade its usual hours on Monday due to a Canadian holiday.

* November-January canola spread traded 1,844 times.

* Chicago November soybeans SX9 unofficially ended flat. Euronext November rapeseed futures /COMX9 and Malaysian November palm oil futures /FCPOX9 rose.

* The Canadian dollar CAD= strengthened against its U.S. counterpart after data showing stronger-than-expected GDP growth. CAD/

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