WINNIPEG, (Manitoba): ICE canola futures dropped on Thursday with rival oilseeds, halting a six-day winning streak. The turnaround in investor sentiment seemed like a “sudden mood swing in the market,” a broker said. “Yesterday everyone (was) chatting about inflation and seemingly willing to buy anything. Today selling everything,” he said.
The most-active January canola lost $17.20 to $927.40 per tonne. The November-January canola spread traded 4,095 times. Tight canola stocks and strong US soyoil prices are expected to support a canola price of $960 per tonne in 2021-22, Agriculture and Agri-Food Canada said.