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ICE canola futures up to near three-month high on Western Canada dryness

Published 2019-06-18, 02:40 p/m
Updated 2019-06-18, 02:40 p/m
ICE canola futures up to near three-month high on Western Canada dryness

WINNIPEG, Manitoba, June 18 (Reuters) - ICE (NYSE:ICE) canola futures edged up on Tuesday to the highest nearby price in nearly three months, supported by dryness concerns in Western Canada.

* Short-covering in the new-crop November contract was also supportive a trader said.

* The July contract moved closer to a key resistance level, the 100-day moving average, the trader said, adding that a pickup in farmer sales has also held canola's gains in check.

* July canola RSN9 added 90 cents to $460.50 per tonne.

* Most-active November canola RSX9 gained 60 cents to $476 per tonne.

* July-November canola spread traded 10,570 times.

* Chicago July soybeans SN9 unofficially ended slightly lower on spillover weakness from corn. Paris Matif August rapeseed futures /COMQ9 and Malaysian September palm oil futures /FCPOU9 dipped.

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