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Friday, January 27, 2023

ICE canola futures slip

WINNIPEG, (Manitoba): ICE canola futures fell on Friday with rapeseed in a session dominated by inter-month spreading.

March canola lost $2.40 to settle at $840 per tonne. The vast majority of trading volume involved arbitraging prices between contract delivery months, and canola’s flat-price direction lacked any clear cause, a trader said. March-May canola spread, the most-active inter-month spread, traded 9,192 times.

Euronext May rapeseed futures dipped. US soybean futures climbed on follow-through buying after the US Department of Agriculture cut its 2022 US crop outlook a day earlier and as Argentina’s crop remains stressed by drought.

ICE canola futures slip

Source: Brecorder

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