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ICE canola futures decline on vegoil weakness

ReutersApr 29, 2025 7:23 PM

- ICE canola futures fell in sympathy with other vegoils on Tuesday, with the Canadian election result having little impact.

• July canola RSN5 settled down $9.40 at $687 per metric ton. November RSX5 dropped $10.50 to $650.40.

• Traders said the re-election of Canada's Liberal government did not have a noticeable impact on the market. "I don't think it was a factor. The market anticipated the result," said Tony Tryhuk of RBC Dominion Securities.

• Chicago Board of Trade soyoil futures BOv1 fell 2.24% on global vegoils weakness.

• Euronext August rapeseed futures COMQ5 fell 1.42%. The expiring May contract COMK5 came under intense pressure and fell 11.44%. Malaysian palm oil futures FCPOc3 fell 0.55% Tuesday. POI/

• The Canadian dollar CAD= edged lower but saw little reaction to the federal election result, in which former Bank of Canada and Bank of England governor Mark Carney returned to power. CAD/

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