Canola ends three-game losing streak with supply first


AAll figures in Canadian dollars, unless otherwise indicated

May 20 (Reuters)ICE Canada canola futures rose on Friday, rebounding from three straight days of declines as investors focused on the tight supply situation, traders said.

* Strong global vegetable oil markets supported canola.

* The contract of July close RSN2 gained $21.30 to $1,171.30 a tonne, topping its 10-day, 20-day and 30-day moving averages.

* Most Active November Canola RSX2 was $10.80 higher at $1,058.70 per ton. The contract closed below its intraday high after hitting technical resistance at its 10-day moving average.

* Canola spread from July to November RSN2-X2 traded 1,629 times.

*Chicago Board of Trade July Soybean Oil Futures GOOD2 rose 1.4 cents to 80.93 cents a pound. July CBOT Soybeans SN2 rose 14 3/4 cents to $17.05 1/4 a bushel. SOY/C

* Euronext August rapeseed futures COMQ2 gained 0.15%, while Malaysian palm oil futures FCPOc3 closed up 0.77%.

(Reporting by Mark Weinraub; Editing by Amy Caren Daniel)

((mark.weinraub@thomsonreuters.com; +1 313 484 5282; Reuters Messaging: mark.weinraub.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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