ICE canola futures rise as stocks run low
WINNIPEG, Manitoba, May 27 (Reuters) - ICE canola nearby futures rose on Tuesday as buyers secured diminishing supplies from reluctant farmers.
• July canola RSN5 settled up $13.70 at $732.20 per metric ton. November RSX5 settled up $6.10 at $694.30.
• Traders said the jump in futures was influenced by scarce farmer selling during the busy harvest season, worries about continuing dryness hurting the outlook for the new crop, and buyers wanting to cover their needs and fearing old crop supplies are running critically low.
• Chicago Board of Trade soyoil futures BOv1 were little moved despite the lack of trading during the Memorial Day holiday on Monday, rising 0.45% from the May 23 close.
• Euronext August rapeseed futures COMQ5 fell 0.41%. Malaysian palm oil futures FCPOc3 rose 0.91%. POI/
• The Canadian dollar CAD= fell on broad gains for the greenback against other currencies. CAD/
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