ICE canola ends mixed in oils tug-of-war
All figures in Canadian dollars unless noted
WINNIPEG, Manitoba, Nov 4 (Reuters) -ICE canola futures settled mixed on Mondayas contradictory pressures from falling soyoil values and rising crude oil left canola in the middle.
* Most-traded January canola futures RSF5 settled down 90 cents at $645 per metric ton. November canola RSX4 also fell 90 cents to $630.30 per metric ton. May and July contracts both rose.
* Canola values are tightly connected to the relative values of vegoils, such as soyoil, and to energy commodities like crude oil. Canola oil can be used for both food products and in biofuels. On Monday, crude oil rose while soyoil fell.
* "It's definitely the two points: crude oil up and soyoil down. It's a tug-of-war," said futures and options broker David Derwin of Ventum Financial.
* Chicago Board of Trade soyoil futures BOcv1 were weaker on profit-taking after a recent rally.
* Brent crude oil futures LCOc1 rose sharply on the OPEC+decision to push off plans to increase output until at least January.
Reporting by Ed White; Editing by Shailesh Kuber
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