CHICAGO: ICE canola futures fell their daily $30 trading limit on Tuesday, pressured by sharp declines in the US soybean and soyoil markets, traders said.
The plunge in soy sparked a round of selling in canola by commodity funds, even though hot and dry weather was continuing to stress the crop in dry areas of Canada.
Most-active November canola lost $30, to $771.40 per tonne.
November-January canola spread traded 2,061 times.
CBOT November soybean futures ended down 94 cents at US$13.05 a bushel.
Euronext November rapeseed futures dropped 3%, their second straight day of sharp declines due to the improving US crop prospects.