Canola futures settled mixed on Wednesday, with gains in the front months and losses in the more deferred positions. Intermonth spreading was a feature as speculators were rolling positions out of the nearby May contract.
Losses in Chicago Board of Trade soyoil put some pressure on values, while a slightly softer tone in the Canadian dollar provided support.
Positioning ahead of Thursday's supply/demand report from the United States Department of Agriculture kept some caution in the grains and oilseeds. Ongoing uncertainty over the COVID-19 pandemic also remained a feature in the background.
May canola gained $1.80 to $462.30, July was up 20 cents at $468.10 and November was steady at $475.70.
Source: DePutter Publishing Ltd.
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