ICE Canadian canola futures fell on Thursday after seven straight sessions of gains, pressured by weakness in soyabeans. Total volume of 9,637 contracts was lowest in nearly eight weeks and down from trading activity on same date a year ago. Crusher buying seen limited amid holidays, but crush margins have risen over past month.
Front-month canola on pace for 2011 loss of 10 percent, its first nearly decline in three years. January canola futures lost $6.70 at $523.00 per tonne on volume of 758 contracts. Most-active March lost $4.70 to $520.00 a tonne on volume of 6,839 contracts. January-March spread traded 459 times, settling at a January premium of $3.00.
Chicago January soyabeans lost 10-3/4 US cents to US $11.87-1/2 per bushel on profit-taking. MATIF February rapeseed lost 0.3 percent. The Canadian dollar was trading at $1.0211 against the US dollar, or 97.93 US cents, at 1:07 pm CST (1907 GMT), up from Wednesday's close at $1.0242 versus the US dollar, or 97.64 US cents. US crude oil futures rose 0.3 percent to US $99.65 per barrel. Dryness persists for Brazil, Argentina grains. Sluggish exports may spur CBOT January soya deliveries.