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Sunday, January 23, 2022

ICE canola futures fall with soyoil, end 4-day winning streak

WINNIPEG: ICE canola futures ended a four-day winning streak on Monday, following soyoil lower.

The drop weakened canola’s technical indicators, reversing from a contract high last week, a broker said.

Speculators own long positions in the nearby January contract and trade based on technicals.

January canola lost $12.40 to $1,012.90 per tonne. January-March canola spread traded 4,887 times.

U.S. soybean futures rose for a fifth session in a row on signs of good demand on both the domestic and export fronts.

Euronext February rapeseed futures dipped and Malaysian January palm oil futures edged higher.

ICE canola futures fall with soyoil, end 4-day winning streak

Source: Brecorder

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