Canadian canola futures fall

May 02, 2013

Canadian canola
Canadian canola

ICE Canadian canola futures slipped on Tuesday with soybeans, but registered their fourth monthly gain in five months. Some profit-taking seen after nearby canola registered a 1.7 percent gain in April. Tight Canadian supplies underpinned canola, with dry weather also hitting Australia’s canola crop.

May canola lost $5.80 to $636.20 per tonne on volume of 3,050 contracts. Most-active July shed $9.60 to $613.60 on volume of 9,831 contracts. May-July spread widened to a May premium of $22.60, trading 2,894 times. Chicago Board of Trade May soybeans dipped 4 US cents to US $14.67-3/4 per bushel. MATIF Paris August rapeseed eased 0.2 percent. Malaysian July palm oil rose 0.6 percent. Canadian dollar was trading at $1.0073 versus the US dollar, or 99.28 US cents, at 1:00 pm CDT (1800 GMT), up from Monday’s close at $1.0116 against the greenback, or 98.85 US cents. Source Reuters

Published: Zarai Media Team

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