On June 1, according to foreign media reports, Intercontinental Exchange (ICE) Canadian rapeseed futures fell to contract lows on Wednesday, under pressure from technical selling and falling crude oil prices.
The November canola contract fell C$3.30 to settle at C$624.80 a tonne. July-November rapeseed contract spread traded 9251 lots.
Grain and oilseed prices were “pinched” by disappointing Chinese manufacturing data, with the sell-off adding to technical weakness, a trader said.
Canada’s Manitoba provincial government released data on Tuesday showing that about 87% of Manitoba’s overall planting work has been completed, slightly slower than the five-year average progress of 91%.
U.S. corn futures fell as macroeconomic worries fueled worries about demand for the commodity, but pared losses as traders focused on weather risks to the U.S. Midwest crop. Euronext August rapeseed futures rose.
