ICE Canadian canola futures rose on Thursday for a second day, pulled up by strength in soyabeans and soyaoil. Canola lagged soya's gains as the market is "fundamentally weak," a trader said. Statistics Canada on Wednesday estimated canola productions at 21 million tonnes, exceeding its Aug. 31 estimate of 19.2 million tonnes.
November canola added $2.10 at $489.10 per tonne. The November-January canola spread traded 4,404 times. Chicago November soyabeans climbed on short-covering and strong weekly export sales. November Paris Matif rapeseed futures edged higher and Malaysian November palm oil futures eased. The Canadian dollar was trading at $1.2907 to the US dollar, or 77.48 US cents at 1:07 p.m. CDT (1807 GMT).
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