ICE canola futures fall to 2-1/2-year low on technical selling
Published Feb 20, 2019 14:38
ICE canola futures fall to 2-1/2-year low on technical selling
WINNIPEG, Manitoba, Feb 20 (Reuters) - ICE (NYSE:ICE) canola futures slipped on Wednesday, pressured by technical selling that pushed the nearby contract to a 2-1/2 year low.
* Most of the volume was inter-month spreading, as investors rolled positions forward from the March contract, a trader said.
* March canola RSH9 lost $2.80 to $470.90 per tonne, touching the lowest nearby price since July 2016.
* Most-active May canola RSK9 gave up $3 to $479.30 per tonne.
* March-May canola spread traded 8,105 times.
* Chicago March soybeans SH9 rose on technical buying. Paris Matif May rapeseed futures /COMK9 sagged and Malaysian May palm oil futures /1FCPOK9 eased.
* The Canadian dollar CAD= was trading at $1.3170 to the U.S. dollar, or 75.93 U.S. cents at 1:27 p.m. CST (1927 GMT).
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.