ICE Canadian canola futures closed higher on Monday in technical trade and amid light support from a weaker Canadian dollar, which tends to make canola more competitive globally, traders said. January canola settled up $2.10 at $487.60 per tonne and March ended up $1.10 at $493.40. The January-March canola spread traded 10,396 times between $5.40 and $7.10, premium March, ending at $5.80.
Chicago January soyabeans ended down 7 US cents at US$9.09-3/4 per bushel on positioning a day ahead of a monthly US Department of Agriculture crop supply/demand report and uncertainty about the ongoing US-China trade dispute, traders said. February Paris Matif rapeseed futures fell 0.5 percent while Malaysian February palm oil futures rose 2.2 percent. The Canadian dollar was trading at $1.3394 to the US dollar, or 74.66 US cents at 3:27 p.m. CST (2127 GMT), softening as the delaying of a key Brexit vote weighed on risk appetite.
Comments
Comments are closed.