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ICE canola futures fall as global vegoils weaken

ReutersApr 21, 2025 7:18 PM

- ICE canola futures fell with vegoils weakness on Monday.

• Most-traded July canola RSN5 settled down $10.30 at$665.40 per metric ton.

• The July-November spread has returned to the inverse level it has often held since the last harvest, with a more than $20 discount of November RSX5 to nearby July, revealing the tightness of Canadian canola stocks and worries about demand for the next crop, which farmers have just begun seeding.

• Traders said commodity markets have been rattled by U.S. President Donald Trump's recent attacks on the U.S. Federal Reserve Board Chair Jerome Powell and rumours of Trump wanting to fire Powell.

• Chicago Board of Trade soyoil futures BOv1 was almost flat, making it the firmest of its usual veg oil sisters.

• Euronext rapeseed futures COMc1 fell 1.20% on Monday. Malaysian palm oil futures FCPOc3 fell 1.64% on a rising Malaysian currency, spillover momentum from other veg oil markets, and dropping crude oil CLc1 values. POI/

• The Canadian dollar CAD= rose as the greenback weakened against a number of other currencies. CAD/

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