ICE Canadian canola futures lower in nearby contracts in afternoon trading on Monday, pressured by lower Chicago soyabean and soyaoil futures, with March drawing additional pressure from May/March spreading, traders said. Deferred canola months finished higher as abundant fall and winter moisture has raised talk flooding may delay spring planting in the Prairie provinces, they said.
Chicago soyabeans finished 7 to 9 US cents per bushel lower on fund long-liquidation and beneficial rain in Argentina's soya areas. Canada's dollar weakened on Monday against the US currency, after gaining earlier, tracking lower with oil prices. Canadian dollar was trading at $0.9897 to the US dollar or US $1.0104 at 2:19 am CST (2019 GMT), down slightly from Friday's North American close at $0.9884 to the US dollar, or $1.0117.