Canola futures mostly lower on spillover soybean weakness

Kitco Media
By Reuters
Published:
Updated:
Reuters
(All figures in Canadian dollars unless noted) CHICAGO, Feb 28 (Reuters) - ICE Canada canola futures ended mostly lower on Tuesday on fund short selling, technical selling and spillover weakness in U.S. soybean and European rapeseed markets, traders said.
* Canola crusher buying lifted the market off session lows late in the day, traders said.
* March canola futures were the only gainer on the day, settling up $5.90 at $847.20 per tonne as short covering and rolling of short positions to deferred-month futures lifted the contract.
* Actively traded May canola ended down $5.50 at $818.20 per tonne.
* Chicago Board of Trade soybeans fell to a seven-week low on Tuesday on commodity fund liquidation and technical selling.
* Euronext May rapeseed futures tumbled 2.9%. (Reporting by Karl Plume in Chicago; Editing by Richard Chang)

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