ICE Canadian canola futures fell off new contract highs to snap their longest streak of gains in nearly six months on Tuesday as investors took profits, traders said. Total volume of 28,551 was largest since October 26, due to brisk inter-month spreading. Investors rolling January positions forward ahead of expiry. Commercial hedges added pressure late-trader.
January ended down $6.80 or 1.2 percent to $564.10, volume 12,869. Sets new contract high at $573.50 March down $6.20 at $572.60, volume 13,753. January/March spread traded 10,204 times, settling at $8.50 premium March, biggest premium on the second nearby month in six weeks.
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