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ICE Canada Review: Canola dips with soyoil

Winnipeg, MB, February 9, 2018 (CNS Canada), Feb 09, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

The ICE Futures Canada canola complex finished lower on Friday, tracking losses in U.S. soyoil.

Fund selling was also a feature of the day.

"It felt like we want to higher but there has been all this outside market carnage," said a trader in Winnipeg. "The equities were getting pounded this week."

Losses in U.S. soybeans added to the downside.

However, demand from end-users remains strong.

The Canadian dollar remains stuck around the 79 U.S. cent mark, which made canola more attractive to domestic crushers and foreign buyers.

Around 20,094 canola contracts were traded on Friday, which compares with Thursday when around 27,082 contracts changed hands. Spreading accounted for 15,464 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

                          Price      Change
Canola            Mar     497.90    dn  1.40
                  May     503.50    dn  2.00
                  Jul     508.60    dn  1.60
     Spread trade prices are in Canadian dollars and the volume
represents the number of spreads:
Months        Prices                      Volume
Mar/May       5.50 under to  6.40 under    4,662
Mar/Jul      10.70 under to 11.10 under      479
Mar/Nov       6.00 under to  7.70 under      436
May/Jul       4.70 under to  5.30 under      882
May/Nov       1.00 under to  2.00 under      591
Jul/Nov       4.90 over  to  2.30 over       555
Nov/Jan       4.30 under to  4.40 under      107

Dave Sims, Commodity News Service Canada

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