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ICE canola futures slip on pressure from strong dollar

Published 2018-09-12, 02:30 p/m
ICE canola futures slip on pressure from strong dollar

WINNIPEG, Manitoba, Sept 12 (Reuters) - ICE canola futures dipped on Wednesday for a second straight day, pressured by a stronger Canadian dollar.

* November canola RSX8 shed $1.90 at $491.70 per tonne.

* Traders shrugged at forecasts for snow in parts of Western Canada, as the remaining crop is well advanced, a trader said.

* The U.S. Department of Agriculture on Wednesday issued a surprise increase to its corn harvest forecast because of expectations of record yields in key areas, and also pegged soybean yields at an all-time high. The November-January canola spread traded 1,947 times.

* Chicago November soybeans SX8 rose, rebounding from a contract low. November Paris Matif rapeseed futures /COMX8 and Malaysian November palm oil /1FCPOX8 slipped.

* The Canadian dollar CAD= was trading at $1.2998 to the U.S. dollar, or 76.93 U.S. cents at 1:18 p.m. CDT (1818 GMT).

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