ICE Canadian canola futures ended mostly higher on Tuesday, extending their winning streak to five days in thin, choppy trading. Total volume was about 12,800 contracts, mirroring lighter volumes in Chicago futures market as investors await fresh fundamental news. Forecast of a snowstorm Tuesday across the Prairies had little supportive impact, despite underpinning concerns about wet planting conditions, as new-crop months ended lower.
Canola followed Chicago soyabeans and soyaoil through much of the session-traders. May settled up 60 cents at $577.40, on volume of 8,440 contracts. July up 30 cents to $585.20 on volume of 2,942 contracts. Back months lower. May-July spread traded 2,376 times, settling at $7.80 premium July. Chicago May soyabean futures ended up 2-1/2 US cents at US $13.65-1/2 per bushel. May soyaoil down 0.02 cent at 55.86 US cents per lb.
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