Canadian canola futures mostly lower

ICE Canadian canola futures mostly eased on Tuesday after China, the world's top oilseed importer, raised interest rates, but new-crop months gained as concerns grew about flooding ahead of planting season. Melting under way of heavy snowfall on Canadian Prairie, later than usual. Canola followed Chicago soybeans lower for most of the day.
Canola volume light so far in second quarter, totalled about 13,200 contracts on Tuesday. May canola dipped $1.20 to $593.20 per tonne, on volume of 9,565 contracts. July down $1.50 at $601.80 on volume of 3,241 contracts. New-crop November rose $1 to $582.50, volume 399. May-July spread traded 2,594 times, with July premium ranging from $8.60 to $8.90. The Canadian dollar was trading at $0.9633 to the US dollar, or US $1.0380, as of 1:14 pm CDT (1814 GMT), up from Monday's North American finish of $0.9675 to the US dollar, or US $1.0336.