ICE Canadian canola mostly slipped on Thursday, weighed down by profit-taking and a stronger Canadian dollar, after touching a nearly five-month high, traders said. Nearby March canola has settled higher nine out of the past 10 sessions, and peaked on Thursday at $549.60, the highest price for a nearby contract on a continuous chart since September 22.
Crusher buying seen lifting March, while hedges weakened deferred months. March canola gained $1.40 to $549.20 a tonne on volume of 7,093 contracts. May fell 10 cents to $551.50 on volume 11,908. Other deferred contracts also slipped. March-May spread traded 5,636 times, settling at a May premium of $2.30. 500 May canola call options traded at $550. Chicago March soybeans gave up 2-3/4 US cents to US $12.58-1/4 per bushel on technical selling, including profit-taking. March soyoil lost 0.30 cent to 53.05 US cents per lb. MATIF May rapeseed edged up 0.2 percent. The Canadian dollar was trading at 0.9957, or US $1.0043 at 1:48 pm CST (1948 GMT), up from Wednesday's North American session close at $0.9991 versus the US dollar, or US $1.0009.
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