WINNIPEG, Manitoba--The ICE Futures canola market traded to both sides of unchanged on Tuesday, settling with small losses in the most active months.
- Gains in Chicago soyoil provided spillover support, but soyoil finished well off its session highs and soybeans were lower on the day. Losses in crude oil also weighed on the grains and oilseeds.
- Ideas that recent rains may leave some intended canola acres unseeded in Western Canada were supportive. Flooding in some fields was also a concern, but crop conditions remained generally favourable in most areas.
- The Canadian dollar was relatively steady at midday, providing little direction for canola.
- Canada exported 780,600 tonnes of canola in April, which was down from just over a million tonnes the previous month, according to updated international trade data from Statistics Canada. Chinese business increased to 480,000 tonnes from about 384,000 tonnes the previous month.
