ICE Canadian canola futures fell on Friday on profit-taking and light producer selling after reaching a one-week high earlier in the day, traders said. May canola settled down $4.80 at $454.20 per tonne on volume of 5,250 contracts. The contract reached $461.90, its highest since March 27, before turning lower. July canola ended down $4.60 at $464.40 per tonne on volume of 5,311 contracts.
Chicago Board of Trade May soyoil settled down 0.10 US cent at 41.57 cents per lb, pressured by technical selling after the contract hit chart resistance near its 200-day moving average of 42.07. NYSE Liffe Paris May rapeseed fell 0.55 percent, down 2.25 euros to 408.75 euros per tonne. Malaysian June palm oil ended up 0.91 percent. Additional pressure stemmed from strength in the Canadian dollar, which make canola less attractive to holders of other currencies. As of 3:20 pm CDT (2020 GMT), the loonie traded at $1.0974 to the greenback, or 91.12 US cents, compared with Thursday's close of $1.1031, or 90.65 US cents.
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