WINNIPEG, (Manitoba): ICE canola futures dropped on Monday, halting a four-day winning streak, in a selloff with rival oilseeds.
Canola followed soy markets lower, with concerns appearing to ease about adverse weather for South America’s soybean crop, a broker said.
March canola shed $4.50 to $1,030.60 per tonne. March-May canola spread traded 1,160 times. US soybean futures fell after hitting their highest in almost seven months on Friday, as dealers assessed the impact of dryness in key South American soy farming regions.
Euronext May rapeseed futures and Malaysian March palm oil futures dipped.