ICE canola futures fall on weak exports, harvest pressure
WINNIPEG, Manitoba, Sept 15 (Reuters) - ICE canola futures fell amidst harvest pressure, gloom over exports and a directionless market.
• November canola RSX5 settled down $7.40 at $632.30 per metric ton. January RSF6 fell the same amounts.
• Canola was weaker than Chicago soyoil, which saw its fourth consecutive gain. Canola futures gained for the those first three sessions, but Monday gave back some value.
• The Canadian Grain Commission has reported canola exports much lower than last year's pace. That creates a bearish outlook when combined with Chinese duties and tariffs, traders said.
• On Wednesday Statistics Canada will update its crop production estimate, using a model-based method, including satellite surveillance. Traders don't treat the September report as critical, since the initial estimate came out at the end of August and harvest is still less than half done in many areas, but any stark deviations from the August estimate will be watched for.
• Chicago Board of Trade soyoil futures BOv1 rose 0.17%.
• Euronext August rapeseed futures COMc1 rose/fell 0.58%.
• The Canadian dollar CAD= rose 0.53%. CAD/
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