ICE Canadian canola futures rose on Tuesday for a second straight session, rebounding modestly from 3-1/2 year lows reached last week. Lack of farmer selling due to low prices underpinned canola. A trader also noted some liquidation of long soybean-short canola spreads that supported canola.
ICE Futures Canada and US markets were closed for holidays on Monday. March canola was up $5.50 at $403.70 per tonne at 8:13 am CST (1413 GMT). Chicago March soybeans added 14-1/2 US cents at US $13.52 per bushel. NYSE Liffe Paris May rapeseed rose 0.8 percent. Malaysian April palm oil gained 1.2 percent. The Canadian dollar was trading at $1.0965 against the US dollar, or 91.20 US cents, up from Friday's close at $1.0983 to the greenback, or 91.05 US cents.
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