ICE canola mixed as nearby contracts rise and deferreds fall

CHICAGO: Nearby ICE Canada canola futures were slightly firmer on Thursday as funds rolled their holdings to the July contract from the May contract.

Gains were muted due to a lack of fresh fundamental news, a trader said.

Deferred contracts eased slightly, pressured by expectations that supplies will remain heavy into the new crop year.

May canola ended 20 cents higher at $456.20 per tonne. The contract rose above its five-day moving average during the session.

July canola gained 60 cents to $464.30 per tonne.

The May-July spread traded 12,437 times, in a range from $7.60 to $8.10, premium July.

Chicago Board of Trade May soybeans settled 6-3/4 cents lower at US$8.95-1/4 per bushel.

Paris Matif May rapeseed futures dipped 0.07 percent and Malaysian June palm oil futures dropped 0.74 percent.

The Canadian dollar fell against its U.S. counterpart on Thursday, as oil prices slipped and the U.S. dollar was broadly stronger against most major peers.