Canadian canola futures end mixed

May 01, 2014

ICE Canadian canola futures ended mixed on Tuesday, with the volatile front month falling sharply ahead of the delivery period. May canola climbed early to a five-month high for a nearby contract, and traders said this was related to the expiry of May options on Friday catching some investors short.

But the contract turned sharply lower later in the session, giving up its premium to the July contract and moving closer to cash prices, a trader said. May delivery period begun on Thursday. May canola lost $10.60 at $471.90 per tonne. July canola added 20 cents at $477.20 per tonne. July-November spread narrowed to a November premium of $7.30. Chicago May soybeans rose 15-3/4 US cents at US $15.24 per bushel. NYSE Liffe Paris May rapeseed added 2 percent. Malaysian May palm oil dropped 1 percent. Canadian dollar was trading at $1.0950 versus the US dollar or 91.32 US cents at 12:56 pm CDT (1756 GMT), up from Monday’s close at $1.1025 to the greenback, or 90.70 US cents.


Courtesy Reuters

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