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ICE canola rises for seventh day in a row

Published 2019-10-08, 03:30 p/m
ICE canola rises for seventh day in a row
ICE
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RSc1
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(All figures in Canadian dollars unless noted)

CHICAGO, Oct 8 (Reuters) - ICE (NYSE:ICE) Canada canola futures rose on Tuesday to their highest level since March 22, supported by technical buying, traders said.

* The front-month contract RSc1 has risen for seven straight days, gaining 4.3 percent during that stretch.

* Benchmark November canola futures RSX9 rose $2.20 to settle at $464.80 per tonne, peaking at $465.40 during the session.

* The contract broke through resistance at the high end of its 20-day Bollinger range. Traders were watching to see if it could rise above its 200-day moving average, a level it has not broken through since January.

* CBOT November soybeans SX9 rose 5-1/4 U.S. cents to US$9.20-1/2 a bushel.

* The Canadian dollar was little changed against its U.S. counterpart on Tuesday, trading in a narrow range as investors worried about U.S.-China trade talks this week and domestic data showed a smaller-than-expected decline in housing starts. CAD/

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