ICE Canadian canola futures slipped on Wednesday a day after posting their biggest daily gain in 2-1/2 months, weighed down by weaker US soya prices, traders said. Canola's losses were smaller than soya's, as farmer selling was light amid uncertainty about yields - trader.
Small speculator buying and lack of sellers seen supporting canola. November canola futures slipped $1.50 or 0.3 percent to $565.20 per tonne on volume of 9,307 contracts. January lost $1.60 to $573.60 on volume of 4,823. November-January spread traded 3,277 times, settling at a January premium of $8.40.
Chicago August soyabeans lost 9 US cents to US $13.64 per bushel. August soyaoil fell 0.81 cent to 56.28 US cents per lb. MATIF November rapeseed settled up slightly. Canadian dollar was trading at $0.9634 to the US dollar, or US $1.0380 at 1:49 pm CDT (1849 CDT), down from C$0.9602 to the US dollar, or US $1.0414, at Tuesday's North American close. NYMEX crude oil settled down 2 percent at US $91.93 per barrel on rising inventories and worries about demand. Heat relief termed too late for US corn crop.
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