ICE canola futures rise in low volume

WINNIPEG, Manitoba, June 19 (Reuters) - ICE canola futures rose in low volume, with the Chicago soy markets closed for a holiday.

• November canola RSX5 settled up $7.70 at $744.10 per metric ton. July RSN5 settled up $6.80 at $745.30.

• The July-November spread narrowed again, almost eliminating the old crop/new crop spread. Traders said worries about the crop now growing in Western Canada are the trigger for the tightening, as dry conditions leave crops exposed to yield damaging impacts. Rain is forecast across most of the Canadian prairies in the next week, but most soils need more than light precipitation to return to good growing conditions.

• Chicago Board of Trade soyoil futures BOv1, which canola futures use both as a vegoils price signal and for spreading, did not trade due to the U.S. Juneteenth holiday. Canola futures volume for November fell to 16,370, the lowest in June and far below the more than 70,000 trading just three and four sessions ago, after the details of U.S. biofuels rules hit the vegoils markets.

• Euronext August rapeseed futures COMQ5 rose 1.27%.

• Malaysian palm oil FCPOc3 rose 0.1%, with strength in the Dalian market counteracting weakness from some Asian markets, including India. POI/

• A Reuters story said that Indian rapeseed meal exports to China have surged since China began hitting Canadian canola meal imports with a 100% tariff.

• The Canadian dollar CAD= fell to a nearly three-week low. CAD/