WINNIPEG, (Manitoba): ICE canola futures fell on Monday on technical selling, extending their decline to three sessions.
Most-active March canola lost $11.10 to settle at $845.90 per tonne. March canola traded below its 50- and 100-day moving averages, triggering technical selling, a trader said.
January-March canola spread, the most active inter-month spread, traded 3,772 times. Chicago Board of Trade grain and soybean futures slid after beneficial rains hit Argentina’s drought-stricken agricultural zone.
Euronext February rapeseed futures also dipped. Grain industry lobby group Coceral said it expected combined European Union and United Kingdom rapeseed production at 20.4 million tonnes, down from 20.6 million tonnes this year.
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