2022.06.22 02:42

ICE canola futures fall, extend longest skid since January

(All figures in Canadian dollars unless noted)

(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, June 21 (Reuters) - ICE canola futures dropped on Tuesday for a fifth straight day, extending their longest skid since January, on technical selling and weaker oilseed markets.

  • Funds’ risk appetite has diminished and they have reduced their canola buying, a trader said. He added, however, that Canadian farmers are reluctant sellers of their remaining supplies from last harvest and crushers appear to be buying on price dips.

  • Most-active November canola (RSX2) lost $8.90 to settle at $953.90 per tonne.

  • November-January canola spread, the most active inter-month spread, traded 4,880 times.

  • U.S. soybean futures (Sv1) fell with corn as a summer weather forecast for the U.S. Midwest turned cooler. (GRA/)

  • Euronext August rapeseed futures (/COMQ2) fell to a four-month low after an early start to the French harvest.

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