ICE Canadian canola dropped on Monday to a 2-1/2-month low, weakened by falling rapeseed prices and technical selling. Funds sold an estimated 2,000 January contracts, increasing their net short position to 20,000 contracts, a trader said. January canola lost $3.50 at $460.90 per tonne, dropping for the fifth straight session.
March canola gave up $3 to $467.70 per tonne. January-March spread traded 5,461 times. Chicago January soybeans rose on bargain-buying and short-covering.
Malaysian January palm oil and NYSE Liffe Paris February rapeseed dipped.
The Canadian dollar was trading at $1.3370, or 74.79 US cents at 1:12 pm CST (1912 GMT), lower than Friday's official close of $1.3345, or 74.93 US cents.
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