ICE canola falls most in 2 months

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ICE canola falls most in 2 months

WINNIPEG : ICE Canada canola futures fell on Thursday, posting their biggest losses in two months as a broad sell-off sw

Abdul Ahad 22 Sep, 2011

* Canola fell despite the Canadian dollar sinking below parity with the US dollar, which made exports more competitive.

* Harvest 76 percent complete in Saskatchewan, well ahead of schedule.

* November canola futures lost $12.80, or 2.3 percent, at $540.50 per tonne on volume of 17,469 contracts. Touched $538.30, lowest price since Aug. 10.

* January canola gave up $13.00 at $550.40 on volume of 4,052 contracts.

* November-January spread traded 3,415 times, settling at a January premium of $9.90.

* Chicago November soybeans lost 37-1/2 US cents to US$12.83 per bushel. October soyoil lost 1.36 cent to 53.68 US cents per lb.

* MATIF November rapeseed fell 2.1 percent.

* The Canadian dollar was trading at 1.0322, or US$0.9688, at 1:18 p.m. CDT (1818 GMT), down from Wednesday's North American close at $1.0059 to the US dollar, or US$0.9941.

* US crude oil settled down 6.3 percent at US$80.51 per barrel on economic gloom, rallying US dollar.

* CP Rail to upgrade north line on grains, potash demand.

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