ICE canola futures down on hefty canola stocks and falling soyoil
All figures in Canadian dollars unless noted
Sept 10 (Reuters) -ICE canola futures dipped on Tuesday on pressure from falling soyoil prices, large stocks of canola and continued fallout from the announcement of a Chinese anti-dumping probe, analysts said.
ICE November canola RSX4 fell $13.50 to $570.10 per metric ton.
January canola RSF5 lost $12.60 to $583.2 per ton.
Canadian stocks of canola were higher at the end of July 2024 compared to the same date in 2023, while total wheat were down according to a farm survey by Statistics Canada released on Monday.
Last week, China said it planned to start an anti-dumping investigation into canola imports from Canada.
Soy prices fell as better-than-expected U.S. crop ratings bolstered production prospects and eased fears over recent dry weather.
CBOT's most-active December soyoil BOZ24 fell 0.85 cent to finish at 39.63 cents per pound, while most-active November soybeans SX24 settled down 20-3/4 cents at $9.97-1/4 per bushel.
Euronext November rapeseed futures COMX4 ticked down about 0.96% and Malaysian palm oil FCPOc3 fell 0.44%. POI/
Reporting by Heather Schlitz; Editing by Alan Barona
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