ICE Canadian canola futures extended their losing streak to four days on Thursday, but ended well off their daily lows, following soyabeans and crude oil. Light farmer selling kept hedge pressure light. Fund selling noted earlier. Nearby November contract dipped as low as $518.50, the lowest price since October 11.
November canola futures fell $1.10 to $524.50 per tonne on volume of 9,530 contracts. January canola lost $1.40 at $534 on volume of 8,697 contracts. November-January spread traded 6,496 times, settling at a January premium of $9.50. Chicago November soyabeans settled unchanged at US $12.25 per bushel, pressured earlier by disappointing weekly US export sales and unwinding of corn-soya spreads. December soyaoil eased 0.09 cent to 51.39 US cents per lb. MATIF November rapeseed eased 0.9 percent. The Canadian dollar was trading at $1.0169 or 98.34 US cents at 1:17 pm CDT (1817 GMT), up from Wednesday's North American session close at $1.0202 to the US dollar, or 98.02 US cents.
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