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ICE canola futures rise for second day on spreads, weak dollar

Published 2019-08-06, 03:08 p/m
ICE canola futures rise for second day on spreads, weak dollar
USD/CAD
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ICE
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(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, Aug 6 (Reuters) - ICE (NYSE:ICE) canola futures rose on Tuesday for a second straight session, lifted by spread trades against soy and weakness in the Canadian dollar.

* Traders said spreads that bought canola and sold soy boosted canola prices. One trader said nervousness about dry conditions in pockets of the Canadian Prairies also supported the market.

* November canola RSX9 gained $3.20 to $448 per tonne.

* November-January canola spread traded 1,016 times.

* Chicago August soybeans SQ9 eased on better than expected rains in the Midwest and fears of a prolonged U.S.-China trade war. GRA/

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

* The Canadian dollar CAD= weakened to a nearly seven-week low. CAD/

* The ongoing French rapeseed harvest is seen reaching 3.6-3.8 million tonnes, 26%-32% below the five-year average, due to adverse weather and pest damage, oilseed crop institute Terres Inovia said on Monday.

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