WINNIPEG: ICE Canadian canola futures fell on Tuesday for a second straight day, pressured by weaker soyaoil and soyameal prices. Canola is becoming more expensive compared to other oilseeds, and crush margins have collapsed of late, adding to the price correction, a broker said. January canola lost $7.50 to $583.90 per tonne.
January-March canola spread traded 12,996 times. Investors have begun rolling January positions forward ahead of the front month's expiry next month. US soyabean futures fell for a third straight session on slowing export demand and as forecasts for more rain in South American crop areas tempered concerns about tightening supplies.
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