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ICE Canada canola rises on soy strength, technical buying

Published 2015-10-21, 04:16 p/m
ICE Canada canola rises on soy strength, technical buying

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, Oct 21 (Reuters) - ICE Canada canola
climbed on Wednesday on spillover support from soybeans that
pushed canola through key technical levels, triggering
short-covering by funds.
* Funds seen now holding a net even position in January
contract and short November position.
* November canola RSX5 added $5 to $476.50 per tonne.
* January canola RSF6 tacked on $4.10 to $482.40 per
tonne.
* November-January spread traded a brisk 14,270 times, as
investors rolled positions into the later month.
* Chicago November soybeans SX5 climbed on a rally in
soyoil prices as well as good export demand. urn:newsml:reuters.com:*:nC3N10M005
* Malaysian November palm oil 1FCPOX5 and NYSE Liffe Paris
November rapeseed COMX5 also rose.
* The Canadian dollar CAD= was trading at $1.3128, or
76.17 U.S. cents, at 2:44 p.m. CT (1944 GMT), lower than its
close on Tuesday at $1.2982, or 77.03 U.S. cents.

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