ICE Canadian canola futures fell on Wednesday as a pickup in farmer selling brought on commercial hedges and weaker US grains set a negative tone, traders said. Market underpinned by stronger MATIF rapeseed. January canola futures slipped $2.20 to $526.80 on volume of 8,982 contracts.
March lost $2.10 at $533.90 on volume 1,777. January-March spread traded 1,372 times, settling at a March premium of $7.10. Chicago January soyabeans gave up 12-1/2 US cents to US $11.87-3/4 per bushel on liquidation amid concerns about the euro debt crisis spreading. December soyaoil shed 0.12 cent to 52.48 US cents per lb.
MATIF February rapeseed gained 0.8 percent. The Canadian dollar was trading at $1.0187, or 98.16 US cents, at 1:18 pm CST (1918 GMT), up from Tuesday's North American session close at $1.0208 against the greenback, or 97.96 US cents. US crude oil gained 3.2 percent at US $102.59 per barrel on Enbridge plans to reverse a key pipeline to send more crude south to the Gulf Coast. Australia harvesting record canola crop.