ICE canola futures slip on big supplies, slack demand

Published 2018-11-14, 02:41 p/m
ICE canola futures slip on big supplies, slack demand
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WINNIPEG, Manitoba, Nov 14 (Reuters) - ICE (NYSE:ICE) canola futures slipped on Wednesday for the third time in four sessions, on ample supplies and slack demand.

* Canola is under pressure from farmer sales of the new Canadian harvest and expectations for another big planted area next year, a trader said.

* The average 2019 Canadian canola price is likely to fall by $30 per tonne, due to soybean weakness, analyst Greg Kostal said on Wednesday at the Grain World conference in Winnipeg.

* Most-active January canola RSF9 lost $2.60 to $478.20.

* January-March canola spread traded 2,137 times, finishing at a $7.40 March premium.

* Chicago January soybeans SF9 settled higher.

* February Paris Matif rapeseed futures /COMG9 dipped and Malaysian December palm oil futures /1FCPOX8 fell.

* The Canadian dollar CAD= was trading at $1.3248 to the U.S. dollar, or 75.48 U.S. cents at 12:51 p.m. CST (1851 GMT).

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