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Saturday, June 3, 2023

ICE canola slips

CHICAGO: ICE Canada canola futures ended lower on Friday in sympathy with declines in global oilseed markets including US soybean and soyoil futures, but the front canola contract stayed above a 21-month low set a day earlier.

May canola settled down $4.20 at $751.60 per tonne, one day after dipping to $737.20, the lowest on a continuous chart of the spot contract since June 2021. July canola ended down $7 at $745.10 a tonne and new-crop November fell $8 to settle at $726.70 a tonne.

Chicago Board of Trade May soybean futures settled down 15 US cents at US$14.76-1/2 per bushel after hitting US$14.70, the contract’s lowest price since Dec. 20. Euronext May rapeseed futures fell about 1% and Malaysian palm oil futures fell 0.3%. Crude oil prices also ended lower, reversing early gains as banking sector fears caused both Brent crude futures and US West Texas Intermediate crude to post their biggest weekly declines in months.

ICE canola slips

Source: Brecorder

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