CHICAGO – ICE canola futures weakened on Monday, retreating into negative territory after early strength failed to propel prices above Friday’s high.
The most active May canola fell $3.80 to $820.80 a ton. The contract met resistance at its 10-day moving average to finish at $826.60, which was Friday’s high. The March-May rapeseed spread, the most active between-month spread, traded 6,060 times. The May-July spread traded 2,430 times.
Chicago Board of Trade March soybean futures were up 1/4 cent at $15.42-3/4 a bushel after trading in both positive and negative territory. Euronext May canola futures up 0.6%.
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