ICE canola futures move little in light trading
WINNIPEG, Manitoba, May 21 (Reuters) - ICE canola futures moved little on Monday on a quiet day in the vegoils markets.
• July canola RSN5 settled down $2.30 at $716 per metric ton. November RSX5 settled up $5.00 at $686, further tightening the old-crop/new-crop spread.
• Traders said the market is subdued with farmers busy with seeding and not interested in pricing or delivering canola, while the lack of action in other vegoils markets didn't provide much momentum.
• Futures and options broker David Derwin of Ventum Financial said canola is now in the annual weather market, where any adverse weather will bring rallies. There's little worry now, so "it's pretty quiet."
• July prices remain near year-and-a-half highs.
• Chicago Board of Trade soyoil futures BOv1 rose 0.67%.
• Euronext August rapeseed futures COMQ5 fell 0.72% Malaysian palm oil futures FCPOc3 fell 0.36%. POI/
• The Canadian dollar CAD= was near two-week highs against the U.S. dollar as the greenback weakened against a number of currencies. CAD/
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