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ICE canola mixed; bargain buying, technicals lift nearby contracts

Published 2019-03-14, 04:00 p/m
ICE canola mixed; bargain buying, technicals lift nearby contracts
USD/CAD
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ICE
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CHICAGO, March 14 (Reuters) - ICE (NYSE:ICE) canola futures 0#RS: were mixed on Thursday in light, range-bound trade, with nearby contracts supported by bargain buying and technical buying, traders said.

* Spread trading further underpinned nearby futures and weighed on some deferred months.

* The July/November spread traded about 3,000 times and the May/July spread traded about 4,600 times, accounting for most of the day's volume, a trader said.

* The most-active May canola contract RSK9 settled $2.90 higher at $461.20 per tonne. The contract found technical support around the $455.00 level.

* July canola RSN9 was up $2.30 at $469.40. Deferred contracts were 10 to 30 cents lower.

* Chicago May soybeans SK9 finished 2-1/2 U.S. cents lower at US$8.98-1/2 per bushel.

* Malaysian May palm oil futures 1FCPOK9 shed 1.3 percent and set a contract low for the second straight session.

* The Canadian dollar CAD= firmed to $1.3325 to the U.S. dollar, or 75.05 U.S. cents, at 2:53 p.m. CDT (1953 GMT).

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