6 new stocks added last week by ProPicks AI are already up by 2.5%. Don't miss the momentum!Get 50% off

ICE canola futures slip after stockpiles hit record high

Published 2019-02-05, 02:32 p/m
ICE canola futures slip after stockpiles hit record high
USD/CAD
-
ICE
-

WINNIPEG, Manitoba, Feb 5 (Reuters) - ICE (NYSE:ICE) canola futures dipped on Tuesday, pressured by selling after a government report showed year-end stockpiles were record-large.

* Total canola stocks in commercial and on-farm storage reached 14.6 million tonnes as of Dec. 31, 2018, up 5 percent year over year, according to Statistics Canada. Traders expected 14.7 million. Concerns about cooling demand from China added to canola's losses, a trader said.

* Canadian canola shipments face longer delays in Chinese ports since a Huawei executive's arrest, traders said. March canola RSH9 gave up $1.30 to $482.60 per tonne.

* March-May canola spread traded 3,461 times.

* Chicago March soybeans SH9 rose on Chinese purchases and positioning ahead of a U.S. Department of Agriculture report due on Friday. Paris Matif May rapeseed futures /COMK9 rose slightly.

* The Canadian dollar CAD= was trading at $1.3139 to the U.S. dollar, or 76.11 U.S. cents at 1:06 p.m. CST (1906 GMT).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.