ICE canola ends lower after three-session climb
All figures in Canadian dollars unless noted
CHICAGO, Sept 19 (Reuters) -ICE canola futures ended lower on Thursday, pressured by technical selling and profit-taking after a three-session climb along with uncertainty about demand for the oilseed as Canada's harvest progressed.
ICE November canola RSX4 settled down 50 cents at $582.60 per metric ton and January canola RSF5 ended down $1.30 at $594.40 a ton.
A firmer Canadian dollar added to bearish sentiment, in theory making Canadian products less competitive on the world market. The loonie CAD= strengthened to nearly a two-week high against its U.S. counterpart as the Federal Reserve's larger-than-usual interest rate cut improved the outlook for the global economy. CAD/
On the Chicago Board of Trade, December soyoil BOZ24 settled up 0.62 U.S. cent, or 1.5%, to close at 40.93 U.S. cents per pound.
December Malaysian palm oil FCPOZ24 rose 0.81% on Thursday while Euronext November rapeseed futures COMX4 fell 0.32%. POI/
Rains slowed fieldwork in Saskatchewan over the last week, the province's weekly progress report said, but growers welcomed the moisture. "Many producers are currently working to get canola crops harvested, with 47% in the bin," the report said. GRO/SAS
Reporting by Julie Ingwersen in Chicago; Editing by Mohammed Safi Shamsi
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