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ICE Canada canola falls on Statscan stocks surprise

Published 2015-09-03, 02:34 p/m
ICE Canada canola falls on Statscan stocks surprise

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, Sept 3 (Reuters) - ICE Canada canola
fell on Thursday to a nearly 3-1/2-month low, after Statistics
Canada estimated much larger than expected midsummer stockpiles
of the crop.
* Statscan pegged July 31 Canadian canola stocks at 2.3
million tonnes, down 23 percent from last year but well above
the average trade expectation of 1.4 million GRO/CA
* Technical selling added to pressure, a trader said.
* Most-active November canola RSX5 lost $8.40 or 1.8
percent to $457.40 per tonne. It touched $456.70, the lowest
nearby price since late May.
* January canola RSF6 gave up $8.20 to $463.40 per tonne.
* November-January spread traded 3,503 times.
* Chicago November soybeans SX5 fell on a big U.S. harvest
outlook. ID:nC3N0XP01X Informa raised its U.S. soybean yield
estimate to 47 bushels/acre from 45.4. ID:nC3N0ZN00Y
* Malaysian November palm oil 1FCPOX5 and NYSE Liffe Paris
November rapeseed COMX5 rose.
* The Canadian dollar CAD= was trading at $1.3200, or
75.76 U.S. cents at 1:06 p.m. CDT (1806 GMT), higher than the
Bank of Canada's official close of $1.3271, or 75.35 U.S. cents.
* In Saskatchewan, overall harvest progress ahead of
norm. GRO/SAS


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