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CHICAGO: ICE Canada canola futures ended mostly lower on Tuesday on fund short selling, technical selling and spill-over weakness in US soybean and European rapeseed markets, traders said.
Canola crusher buying lifted the market off session lows late in the day, traders said. March canola futures were the only gainer on the day, settling up $5.90 at $847.20 per tonne as short covering and rolling of short positions to deferred-month futures lifted the contract.
Actively traded May canola ended down $5.50 at $818.20 per tonne. Chicago Board of Trade soybeans fell to a seven-week low on Tuesday on commodity fund liquidation and technical selling. Euronext May rapeseed futures tumbled 2.9%.