ICE canola futures rise ahead of stocks report
WINNIPEG, Manitoba, Sept 8 (Reuters) - ICE canola futures rose on Monday but remained within the long-term downtrend established in late June.
• November canola RSX5 settled up $10.50 at $627.30 per metric ton. January RSF6 settled up $10.40 at $638.60. Canola futures have fallen more than $100 per ton since crop growing conditions have improved and trade problems have increased.
• Traders and analysts are preparing for Tuesday morning's Statistics Canada's crop stocks report, with attention focused on canola stocks. Many analysts have doubted StatsCan's stocks numbers since late 2024, believing they were understated. Revisions have brought them closer to trade expectations.
• Most analysts expect canola stocks as of July 31 to have been slightly less than 2 million tons.
• Chicago Board of Trade soyoil futures BOv1 rose 0.47%.
• Euronext August rapeseed futures COMc1 fell 0.27%.
• Malaysian palm oil futures FCPOc3 rose 0.96%. POI/
• The Canadian dollar CAD= was little moved. CAD/
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