WINNIPEG, (Manitoba): ICE canola futures slid on Tuesday, dragged down by plunging soyoil prices.
Statistics Canada pegged Dec. 31, 2021 canola stocks at 7.6 million tonnes, in line with expectations.
March canola lost $6.70 to $1,022.80 per tonne. March-May canola spread traded 6,496 times.
US soybean futures dropped after an eight-month high the previous session, pressured by investor positioning ahead of the US Agriculture Department’s monthly global supply and demand assessment.
Euronext May rapeseed futures also plunged, leading the way down for oilseeds and vegetable oils.
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