Canola futures settled with small losses in the most active months on Monday, after posting gains for most of the session.
Canola held within a narrow range, lacking any clear direction as participants await some fresh market moving data, according to a trader.
Gains in Chicago Board of Trade soybeans and a weaker tone in the Canadian dollar provided some support, while losses in soyoil tempered any upside potential. Trade tensions between Canada and China remained a bearish influence in the market, according to traders.
On the other side, the trade uncertainty has led to expectations for reduced canola acres this spring, which provided some support. Statistics Canada releases its first survey-based acreage estimates of the year on April 24.
May canola fell 60 cents to $455.70, July was down 90 cents at $463.70 and November was steady at $475.
Source: DePutter Publishing Ltd.
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