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ICE canola futures gain again

ReutersApr 16, 2025 7:40 PM

- ICE canola futures gained again Wednesday, notching an 18th rise in 21 sessions since March 24.

• Most-traded July canola RSN5 settled up $4.20 at $680.70 per metric ton. Other contract months had similar gains. November RSX5 is at a more than $20 discount to July futures.

• Canola's daily gains have been remarkably steady, traders said. Concern over low canola stocks is outweighing worries over tariffs, biofuels policies and other macro issues.

• Chicago Board of Trade soyoil futures BOv1 rose 0.33%, supported by lower than expected U.S. soyoil stocks.

• Euronext rapeseed futures COMc1 fell 0.6%. Malaysian palm oil futures FCPOc3 broke lower by 2.26% on weakness in Dalian vegoils and predictions of increasing Asian production. POI/

• The Canadian dollar CAD= strengthened and stayed near five month highs. CAD/

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