(Reuters) – ICE canola futures fell more than one percent on Wednesday on spillover weakness from allied U.S. soy futures along with long liquidation by speculators and lackluster export demand, traders said.
A firmer Canadian dollar added to bearish sentiment, making Canadian products less competitive on the global market.
January canola settled down $5.30 at $453.50 per tonne, while March futures ended down $5.20 at $462.80.
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Spreading remained a feature as traders worked to roll January positions into deferred contracts ahead of the end-year holidays, when liquidity tends to erode. The January-March canola spread <RSF0-H0> traded 10,354 times between $9 and $9.40, premium March.
Chicago Board of Trade soybean futures fell as investors locked in profits after six straight days of gains. CBOT January soybeans settled down 7-3/4 U.S. cents at US$8.93-1/2 per bushel.
CBOT traders shrugged off news of fresh U.S. soybean sales to China as they awaited concrete signs of progress toward a phase-one U.S.-China trade deal.
Euronext February rapeseed futures fell 0.3% and Malaysian February palm oil futures fell 0.8%.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was down 0.48 cents $58.80 per barrel.
In the afternoon, the Canadian dollar was unchanged at US75.55. The U.S. dollar was C$1.3201.
| Name / Contract | High | Low | Last | Change | Settlement |
| Canola Jan 2020 | 459.90 | 453.20 | 453.90 | -4.90 | 453.90 |
| Canola Mar 2020 | 468.90 | 462.50 | 462.70 | -5.30 | 462.70 |
| Canola May 2020 | 476.70 | 470.40 | 470.70 | -5.20 | 470.70 |
| Canola Jul 2020 | 482.50 | 476.30 | 476.70 | -5.10 | 476.70 |
| Canola Nov 2020 | 485.20 | 480.30 | 481.10 | -4.10 | 481.10 |
| Soybean Jan 2020 | 902.00 | 892.00 | 893.50 | -7.75 | 893.00 |
| Soybean Mar 2020 | 916.00 | 906.25 | 908.00 | -7.50 | 907.50 |
| Soybean May 2020 | 929.25 | 920.00 | 921.75 | -7.25 | 921.50 |
| Soybean Jul 2020 | 942.25 | 933.25 | 935.00 | -7.00 | 934.50 |
| Soybean Aug 2020 | 946.50 | 938.00 | 939.50 | -6.75 | 939.25 |
| Soybean Sep 2020 | 943.25 | 936.50 | 937.75 | -5.75 | 937.25 |
| Soybean Meal Dec 2019 | 296.20 | 293.30 | 293.30 | -3.60 | 294.60 |
| Soybean Meal Jan 2020 | 298.30 | 294.30 | 295.00 | -3.70 | 294.60 |
| Soybean Meal Mar 2020 | 302.20 | 298.60 | 299.30 | -3.10 | 298.80 |
| Soybean Oil Dec 2019 | 31.31 | 31.20 | 31.23 | -0.24 | 31.24 |
| Soybean Oil Jan 2020 | 31.77 | 31.35 | 31.44 | -0.24 | 31.45 |
| Soybean Oil Mar 2020 | 32.03 | 31.62 | 31.71 | -0.24 | 31.73 |
| Corn Dec 2019 | 363.00 | 357.00 | 357.75 | -5.50 | 358.50 |
| Corn Mar 2020 | 377.00 | 371.00 | 371.25 | -5.75 | 371.25 |
| Corn May 2020 | 382.75 | 377.50 | 378.00 | -4.75 | 378.00 |
| Corn Jul 2020 | 387.75 | 383.50 | 383.75 | -4.25 | 384.00 |
| Corn Sep 2020 | 387.25 | 384.00 | 384.75 | -2.75 | 385.00 |
| Oats Dec 2019 | 318.00 | 315.00 | 315.25 | -1.00 | 316.25 |
| Oats Mar 2020 | 297.00 | 291.75 | 293.75 | -1.00 | 293.75 |
| Oats May 2020 | 293.25 | 289.25 | 290.00 | -2.00 | 290.00 |
| Oats Jul 2020 | 285.00 | 282.50 | 282.50 | -3.25 | 285.75 |
| Oats Sep 2020 | 275.75 | 275.75 | 275.75 | -1.25 | 277.00 |
| Wheat Dec 2019 | 534.50 | 528.00 | 530.75 | -4.00 | 529.00 |
| Wheat Mar 2020 | 523.50 | 516.75 | 519.25 | -4.50 | 519.00 |
| Wheat May 2020 | 527.00 | 520.25 | 522.75 | -4.00 | 522.75 |
| Wheat Jul 2020 | 529.75 | 523.25 | 526.00 | -3.75 | 525.50 |
| Wheat Sep 2020 | 536.00 | 530.00 | 532.75 | -3.75 | 532.00 |
| Spring Wheat Dec 2019 | 501.50 | 501.50 | 501.50 | 4.50 | 501.50 |
| Spring Wheat Mar 2020 | 520.00 | 515.50 | 518.25 | 0.25 | 518.25 |
| Spring Wheat May 2020 | 528.00 | 524.50 | 526.25 | -0.25 | 526.25 |
| Spring Wheat Jul 2020 | 537.25 | 533.00 | 535.50 | -0.50 | 535.50 |
| Spring Wheat Sep 2020 | 545.50 | 544.25 | 544.25 | -1.00 | 544.25 |
| Hard Red Wheat Dec 2019 | 416.00 | 415.50 | 415.50 | -0.50 | 416.00 |
| Hard Red Wheat Mar 2020 | 433.75 | 427.50 | 430.75 | -0.50 | 431.00 |
| Hard Red Wheat May 2020 | 440.50 | 435.25 | 437.75 | -1.25 | 437.50 |
| Hard Red Wheat Jul 2020 | 448.00 | 443.00 | 445.50 | -1.50 | 445.25 |
| Hard Red Wheat Sep 2020 | 456.50 | 451.75 | 454.50 | -1.50 | 454.00 |
| Live Cattle (Pit) Dec 2019 | 120.58 | 120.58 | 120.58 | 0.70 | 120.58 |
| Live Cattle (Pit) Feb 2020 | 125.33 | 125.33 | 125.33 | 0.75 | 125.33 |
| Live Cattle (Pit) Apr 2020 | 125.88 | 125.88 | 125.88 | 0.83 | 125.88 |
| Feeder Cattle (Pit) Jan 2020 | 142.78 | 142.78 | 142.78 | 1.13 | 142.78 |
| Feeder Cattle (Pit) Mar 2020 | 143.68 | 143.68 | 143.68 | 1.15 | 143.68 |
| Feeder Cattle (Pit) Apr 2020 | 145.48 | 145.48 | 145.48 | 1.00 | 145.48 |
| Lean Hogs (Pit) Dec 2019 | 60.70 | 60.70 | 60.70 | 0.23 | 60.70 |
| Lean Hogs (Pit) Feb 2020 | 67.73 | 67.73 | 67.73 | -0.25 | 67.73 |
| Lean Hogs (Pit) Apr 2020 | 74.25 | 74.25 | 74.25 | 0.05 | 74.25 |
