WINNIPEG: ICE Canadian canola futures ended mixed on Friday, weighed down by losses in larger oilseed markets on profit-taking after recent rallies.
Canola prices still hold upside, and any declines in the near term are unlikely to be as steep as soybeans and soyoil, which have risen faster of late, a broker said.
March canola rebounded late to settle up 10 cents to $687.80 per tonne, but retreated from the previous day’s contract highs. The May contract, which was nearly as active, finished lower.
March-May canola spread traded 4,185 times.
Chicago Board of Trade corn and soyabean futures fell, with traders taking some money out of the market after prices surged to multi-year highs earlier in the week. Euronext February rapeseed futures and Malaysian March palm oil futures fell.