WINNIPEG, (Manitoba): ICE canola futures slipped on Wednesday to snap a three-day winning streak, as speculators sold parts of their long positions to take profits.
Canola has surged in recent sessions to all-time highs for the most-active contract as speculators built long positions due to canola’s technical strength.
Most-active January canola lost 10 cents to $990.70 per tonne, paring its losses in late trading. January-March canola spread traded 1,649 times.
US soybean futures slid, pressured by lower oil markets and planting progress in South America.
Euronext February rapeseed futures dipped and Malaysian January palm oil futures rose.
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