ICE Canadian canola futures eased on Wednesday for the first time in five sessions, as buying interest dried up with prices near contract highs, traders said. Canola outperformed soybeans a day earlier and Wednesday's slip was seen as a modest correction.
Crusher buying eased with profit margins sliding. May canola slipped $1.70 at $623.50 per tonne on volume of 6,988 contracts. July canola lost $2.20 to $618.00 per tonne on volume of 7,848 contracts. May July spread traded 4,830 times, settling at a May premium of $5.50. July-November spread widened to a July premium of $37.80, trading 1,742 times.
Chicago May soyabeans lost 4 US cents to US $14.22 per bushel. May soyaoil slipped 0.52 cent to 56.45 US cents per lb.
MATIF May rapeseed eased 0.8 per cent. The Canadian dollar was trading at $1.0036 against the US dollar or 99.64 US cents at 1:46 p.m. CDT (1846 GMT), up from Tuesday's North American close at C$1.0041 versus the US dollar, or 99.59 US cents.