ICE Review : Canola Sharply Lower on Comparable Oils Losses, Profit Taking
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Canola futures on the Intercontinental Exchange fell sharply due to losses in comparable oils and profit taking. Chicago soybeans and soyoil saw declines, while soymeal edged up. MATIF rapeseed and Malaysian palm oil also contributed to the downturn. Despite improved weekly exports, year-to-date canola exports lag behind last year's figures. The March canola contract is below moving averages, adding pressure. The Canadian dollar remained stable, and trading volume decreased from Thursday. Prices for various contracts dropped, with spreading accounting for a significant portion of trades.
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