CHICAGO: ICE Canada canola futures fell for the seventh session in a row on Monday, following a sharp decline in soybean futures as speculators added to their short position, traders said.
On a continuous basis, the most-active canola futures contract hit its lowest since Sept. 8 during the session.
The benchmark May canola contract fell $10 to $767.80 per tonne. New crop November canola dropped $10.90 to at $744.90. The May-July spread traded 4,956 times and the July-November spread traded 3,816 times.
Chicago Board of Trade May soybean futures closed US15-3/4 cents lower at US$14.91-1/4 a bushel. Euronext May rapeseed futures dropped 1.6% on Monday.
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