ICE Canadian canola futures fell on Thursday, pressured with other commodities by concerns China may tighten monetary policy and on profit-taking after three days of gains. Oil, metals and some agricultural markets sold off after stronger-than-expected Chinese growth data spurred concern about tighter monetary policy.
Nearby canola pared losses later in session, but didn't recover as fast as Chicago soybeans because of late commercial hedges-trader. March ended down $4.80 or 0.8 percent at $599.90, on volume of 14,903 contracts. May down $5.20 at $607.70, volume 3,786. November down $3.10 at $566, volume 1,992. March-May spread traded 2,773 times, settling at $7.80, premium May. Chicago March soybeans settled up 2-3/4 US cents at US $14.14-1/4 per bushel. March soyoil down 0.43 cent to 57.26 US cents per lb.