WINNIPEG: ICE Canadian canola futures dipped on Monday, trading in thin volume with most US markets closed.
Canola’s losses were likely due to commercial hedges against their purchases from Canadian farmers, a broker said, adding that the drop was surprising given weather concerns for South America’s soyabean crop.
March canola shed $3.80 to $684 per tonne.
March-May canola spread traded 1,399 times.
Euronext May rapeseed futures and Malaysian March palm oil futures rose.
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