ICE canola extends rally to July highs on short covering
All figures in Canadian dollars unless noted
Oct 3 (Reuters) -ICE canola futures extended gains and touched their highest prices since late July on Thursday on short covering by commodity funds and technical buying, traders said.
Strength in energy and soybean oil markets helped lift canola futures, a trader said.
Canada's canola harvest is winding down and some farmers are disappointed with their crop yields, a trader said.
Traders are watching for potential Canadian export sales to China but said high prices may discourage demand.
November canola futures RSX4 settled up $4.10 at $622 per metric ton after reaching $627.60, the contract's highest since July 31.
January canola RSF5 ended up $4.50 at $636 per ton and touched its highest price since July 30.
On the Chicago Board of Trade, December soyoil BOZ24 closed up 0.89 cent at 44.53 cents per pound and reached its highest price since July 24.
Malaysian palm oil FCPOc3 was up 1%, while Euronext November rapeseed futures COMX4 rose 0.8%. POI/
Reporting by Tom Polansek in Chicago; Editing by Shailesh Kuber
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