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ICE canola futures rise, continue see-saw trading pattern

Reuters · 11/15/2022 14:49
ICE canola futures rise, continue see-saw trading pattern

All figures in Canadian dollars unless

- ICE canola futures rose on Tuesday, continuing a pattern of choppy, sideways trading.

* Trading volumes were light and may have contributed to canola's gains even as rival European rapeseed declined sharply, a trader said.

* January canola RSF3 added $9.70 to settle at $894.60 per tonne.

* Traders said January canola faces resistance at $900, but has found a floor at the 20-day moving average, around $882.

* January-March canola spread, the most active inter-month spread, traded 2,856 times.

* Euronext February rapeseed futures /COMG3 tumbled more than 2%.

* Ukraine's rapeseed plantings have held up as farmers there prioritized the crop over wheat, analysts said.

* U.S. soybean futures Sv1 rose despite concerns about Chinese demand. GRA/

(Reporting by Rod Nickel in Winnipeg; Editing by Maju Samuel)

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