ICE canola futures stabilize after dramatic week
WINNIPEG, Manitoba, Aug 15 (Reuters) - ICE canola futures rose on Friday and fell for the week, but seemed to have stabilized after China's decision on Tuesday to hit Canadian canola with prohibitive duties.
• Traders said tight canola stocks both now and expected for 2025-26 have cushioned the duties' impact.
• November canola RSX5 settled up $6.40 at $660.90 per metric ton. January FRS6 rose $5.70 to $672.70.
• Volume is back to pre-China-news levels.
• Analysts are debating the likeliest outcome for the Chinese anti-dumping duties, which were described as preliminary. One analyst said China's heavy rapeseed stocks provide a non-political reason why China might be discouraging imports right now.
• Much of the industry discussion about the duties revolve around China's unhappiness with Canada's 100% tariffs on Chinese electrical vehicles, which were imposed a year ago.
• Chicago Board of Trade soyoil futures BOv1 rose 2.11% on short-covering.
• Euronext rapeseed futures COMc1 fell 0.42%.
• Malaysian palm oil futures FCPOc3 rose 1.69% and over 5% for the week on strong exports. POI/
• The Canadian dollar CAD= moved little Friday but was weaker for the week. CAD/
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