Canadian canola futures drop

29 Aug, 2019

ICE Canadian canola futures lost ground on Tuesday for the third straight session, under pressure from a slide in soyaoil prices.
Deteriorating canola crush margins also weighed on prices, a trader said, but added that recent wet weather had slowed the Canadian harvest, limiting canola's losses.
November canola shed $2 to $446.40 per tonne.
November-January canola spread traded 1,790 times.
Chicago November soyabeans slipped on improved US crop conditions.
Euronext November rapeseed futures edged higher and Malaysian November palm oil futures fell.
The Canadian dollar strengthened to a nearly two-week high against its US counterpart as oil prices rose and investors became more optimistic that the prolonged trade dispute between the United States and China would be resolved.

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