ICE canola futures dip on weak export demand

WINNIPEG,(Manitoba): ICE canola futures dipped on Wednesday due to weak canola export demand and falling soyoil prices.

Canadian canola export demand has been lacklustre compared with crusher buying, which is strong due to historically high crush margins, a trader said.

March canola lost $4.30 to settle at $828.20 per tonne. March-May canola spread, the most active inter-month spread, traded 4,664 times. Soybeans and corn traded both sides of even following a monthly supply and demand report from the US agriculture department showing larger-than-expected domestic stockpiles of corn and soybeans. Euronext May rapeseed futures eked out a slight gain.