ICE Canada canola futures closed mixed on Thursday, with the July contract's premium slipping. Thin commercial supplies due to a lack of farmer selling have driven up July's premium over new-crop November, but the spread narrowed, possibly due to the shortage easing, a trader said. Some concerns about the new crop were also noted. The government of Saskatchewan said 56 percent of oilseed crops in the Canadian province were behind their normal development stages.
July canola eased $2.00 to $476.80 per tonne. Most-active November canola gained 90 cents to $464.10 per tonne.
July-November spread narrowed to a July premium of $12.70. Chicago Board of Trade July soybeans added 11-3/4 US cents at US $14.20-3/4 per bushel. July soybean oil rose 0.48 US cent to 40.61 US cents per lb. NYSE Liffe Paris August rapeseed gained 1.2 percent.
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