WINNIPEG: ICE Canada canola futures fell on Monday as investors staked out positions in anticipation of a bearish supply report, traders said.
The trade expects Statistics Canada on Tuesday to report record high Dec. 31 Canadian canola stocks. The average trade estimate among analysts surveyed by Reuters was 12.3 million tonnes, compared with 8.1 million a year earlier.
March canola settled down $3.80 at $426.40 per tonne on volume of 5,804 contracts.
May canola settled down $3.80 at $436.60 a ton on volume of 3,699 contracts.
The March-May spread was unchanged at a May premium of $10.20, trading 2,867 times.
CBOT March soybeans settled up 10 U.S. cents at US$12.92-3/4 per bushel.
CBOT March soyoil dropped 0.19 U.S. cent to close at 37.45 U.S. cents per lb.
NYSE Liffe Paris May rapeseed settled up 0.75 euro, or 0.2 percent, at 364.75 euros per tonne.
The Canadian dollar strengthened against the greenback to its highest level in a week on Monday. At 3:05 p.m. CST (2005 GMT), the Canadian unit was trading at $1.1099 against the U.S. dollar, or 90.02 U.S. cents, up from its Friday close of $1.1138, or 89.78 U.S. cents.
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