WINNIPEG: ICE Canada canola futures dove on Monday to their biggest daily percentage loss in two months, pulled down by a plunge in soybean prices as US yields were reported better than expected.
* Fund selling on worsening technicals and commercial hedges late in the session extended canola's losses - trader.
* November canola lost $30, or 4.6 percent, to $621.60 per tonne on volume of 14,432 contracts, snapping a three-session winning streak.
* January canola shed $29.70 to $625.40 on volume of 5,846 contracts.
* November-January spread widened to a January premium of $3.80, trading 5,637 times.
* Chicago Board of Trade November soybeans plunged the maximum daily limit 70 US cents at US$16.69 per bushel.
* MATIF November rapeseed lost 2.4 percent.
* Canadian dollar was trading at $0.9747 against the US dollar or US$1.0260 at 1:53 p.m. CDT (1853 GMT), down from Friday's close at $0.9712 versus its US counterpart, or US$1.0297.
* EU Commission to cap food-based biofuels in major shift.
* Exporters sell 210,000 tonnes US soybeans to unknown.
Comments
Comments are closed.