ICE Canadian canola futures ended mixed on Wednesday, as traders sold the nearby contract and bought deferred supplies. The most-active July contract dipped below the 50-day moving average for the first time since mid-April, triggering selling by some long investors, a trader said. Buying of the November contract, which represents the next harvest, was related to concerns about Statistics Canada's lower than expected planting estimate last week.
Most-active July canola fell $1.20 to $528.90 per tonne. New-crop November canola gained $1.70 to $518.90 per tonne. ICE Futures Canada reported delivery of 430 May contracts on Wednesday. Thhe contract expires on May 14 The July-November canola spread traded a brisk 4,274 times.
Chicago July soybeans fell on export fears. August Paris Matif rapeseed futures rose and Malaysian July crude palm oil was little changed. The Canadian dollar was trading at $1.2815 to the US dollar, or 78.03 US cents, at 1:13 pm CDT (1813 GMT).
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