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Friday, February 3, 2023

ICE canola futures drift lower

WINNIPEG: ICE canola futures slipped on Monday, pressured by weaker rapeseed and soybean prices.

Most-active March canola has traded in a tight range since late December, hovering mostly above its 50-day moving average. Inter-month spread trading has accounted for price fluctuations in recent sessions, a trader said. March canola lost $10.30 to settle at $858.60 per tonne. March-May canola spread, the most active inter-month spread, traded 2,454 times.

US soybean futures dipped as investors weighed weather-reduced production in some areas of South America against tepid demand for US supplies.

Euronext February rapeseed futures also fell, even as unusually mild weather could have a negative impact on Ukrainian rapeseed crops.

ICE canola futures drift lower

Source: Brecorder

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