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ICE canola futures slide on technical selling, soy spreads

Published 2019-02-15, 03:07 p/m
Updated 2019-02-15, 03:10 p/m
ICE canola futures slide on technical selling, soy spreads

WINNIPEG, Manitoba, Feb 15 (Reuters) - ICE (NYSE:ICE) canola futures slipped on Friday for a third straight session, pressured by technical selling and spread trades against soybeans.

* Buying has dried up in recent sessions, a trader said.

* Canola's seasonal tendency is to trade sideways in February and rally in March, said Harold Davis of Prairie Crop Charts in a commentary this week.

* March canola RSH9 gave up $2.90 to $475.80 per tonne.

* May canola RSK9 lost $2.40 to $484.80 per tonne.

* March-May canola spread traded 7,835 times.

* Chicago March soybeans SH9 finished higher on optimism about U.S.-China trade talks. Paris Matif May rapeseed futures /COMK9 eased and Malaysian April palm oil futures /1FCPOJ9 dipped.

* The Canadian dollar CAD= was trading at $1.3261 to the U.S. dollar, or 75.41 U.S. cents at 12:35 p.m. CST (1835 GMT).

* ICE canola will be closed for daytime trading on Monday for a Canadian holiday, resuming trade on Monday evening.

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