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ICE canola futures slip on farmer selling

ReutersFeb 13, 2025 8:17 PM

All figures in Canadian dollars unless noted

- ICE canola futures slipped again Thursday as farmer-selling and commercial hedging locked in multi-month highs ahead of possible tariff impacts.

• March canola RSH5 settled down $2.20 at $658.60 per metric ton. Minimal losses were similar across all active months.

• Farmers have been following advice to sell at current prices, which are better than at any time since November, and before a tariff impact could reverse recent bullish sentiment.

• Farmers don't want to risk being caught on the wrong side of a tariff reaction. "It's their income. It's their cash flow. So, if you're worried about tariffs, make some sales now," said a trader.

• Chicago Board of Trade soyoil futures BOv1 rose 1.29%, providing support to canola futures, which would otherwise have sold off more, traders said.

• Euronext rapeseed futures COMc1 rose 0.14%, but Malaysian palm oil futures FCPOc3 fell 1.45% Thursday. POI/

• The Canadian dollar CAD= hit its highest level versus the greenback in two months, making canola relatively more expensive to markets pricing in U.S. dollar terms. CAD/

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