ICE Canadian canola futures fell on Tuesday for a second straight session, following declines in allied US soyabean futures, traders said. Traders await plantings data due Friday from Statistics Canada. Trade estimates canola area of 22.4 million acres, higher than Statscan's spring forecast. July canola ended down $1.80 at $521.50 per tonne.
Most-active November canola fell $1.70 at $508 per tonne. Support noted at the contract's 200-day moving average near $506. The July-November canola spread traded 6,056 times between $13.20 and $14.80, premium July. Chicago Board of Trade July soyabeans fell on strong US crop prospects. August Paris Matif rapeseed futures firmed and Malaysian September crude palm oil eased. The Canadian dollar was trading at $1.3302 to the US dollar, or 75.12 US cents at 3:22 pm CDT (2022 GMT).
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