ICE Close: Mostly Lower Close for Canola

Canola futures ended mixed on Monday, with losses in the most active front months and gains in the more deferred positions.

Losses in Chicago Board of Trade soyoil and ample supplies in the commercial pipeline contributed to the declines, according to participants.

However, canola found some independent support and lagged soyoil to the downside, as a slowdown in fund and farmer selling provided support, according to a broker. Increased export demand was also thought to be finding its way into the futures.

March canola was down $1.10 at $482.90, May fell 90 cents to $491.80 and July lost 60 cents to $497.10.

Source: DePutter Publishing Ltd.

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