ICE canola futures fall with soyoil, end 4-day winning streak

WINNIPEG: ICE canola futures ended a four-day winning streak on Monday, following soyoil lower.

The drop weakened canola’s technical indicators, reversing from a contract high last week, a broker said.

Speculators own long positions in the nearby January contract and trade based on technicals.

January canola lost $12.40 to $1,012.90 per tonne. January-March canola spread traded 4,887 times.

U.S. soybean futures rose for a fifth session in a row on signs of good demand on both the domestic and export fronts.

Euronext February rapeseed futures dipped and Malaysian January palm oil futures edged higher.