ICE Canadian canola futures ended sharply lower on Monday, pressured by limit losses in soybean futures, traders said. Prices were underpinned by routine exporter buying, and weakness in the Canadian dollar. Most of the volume was in flat price spread. There were 340 March/May spread between $8.10 and $8.80, according to floor sources.
Benchmark March closed down $18.50 at $419.40 on volume of 7,479 lots. The gains came amid a steep slide in Chicago Board of Trade soybean futures tied to bearish USDA crop data that left CBOT March beans down 70 cents at $9.66. The Canadian dollar was lower against the US currency, trading on Monday afternoon at $1.2151 to the US dollar, or 82.29 US cents, compared with $1.1908, or 83.98 US cents, at Friday's close.