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ICE canola futures rise for third straight session

ICE canola futures rise for third straight session

Reuters · 09/13/2022 15:57
ICE canola futures rise for third straight session

All figures in Canadian dollars unless

- ICE canola futures rose on Tuesday for a third straight session, pulled higher by strength in soyoil.

* Despite their gains, canola prices have lagged increases in soybeans over recent weeks, a trader said. He added that Canadian farmers are actively selling their old crop.

* November canola RSX2 added $1.70 to settle at $801.40 per tonne. The contract touched its highest since Sept. 2.

* Statistics Canada on Wednesday will release updated crop production estimates. Traders and analysts, on average, expect canola production of 19.9 million tonnes.

* November-January canola spread, the most active inter-month spread, traded 4,044 times.

* Chicago Board of Trade corn and soybean futures eased but remained three-month highs as the government's reduced forecasts for this year's harvests continued to underpin prices. GRA/

* Euronext November rapeseed futures /COMX2 rose, even though French rapeseed output was revised higher.

(Reporting by Rod Nickel in Winnipeg)

((rod.@tr.com;(1 204 230 6043)(Reuters Messaging: rod..tr.com@reuters.)@RodNickel_Rtrs))