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ICE canola futures dip due to soyoil losses

Published 2019-08-13, 02:55 p/m
ICE canola futures dip due to soyoil losses
USD/CAD
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ICE
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(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, Aug 13 (Reuters) - ICE (NYSE:ICE) canola futures lost ground on Tuesday, pressured by weakness in soyoil prices.

* Commercial hedges against fresh canola sales by farmers to the cash system was seen weighing on prices. But a trader said crushers were also buying deferred canola contracts to lock in attractive margins.

* November canola RSX9 shed $3.50 to $448.90 per tonne.

* November-January canola spread traded 4,095 times.

* Chicago November soybeans SX9 closed higher on signs of easing trade tensions between the U.S. and China. GRA/

* Paris Matif November rapeseed futures /COMX9 and Malaysian October palm oil futures /FCPOV9 rose.

* The Canadian dollar CAD= weakened to a five-day low against its U.S. counterpart as oil prices fell and as investors worried about geopolitical tensions that could hurt the outlook for the global economy. CAD/

* Analyst APK-Inform cuts Ukraine 2019/20 rapeseed harvest, export forecasts.

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