ICE canola futures dip on lackluster demand, weak soy prices
WINNIPEG, Manitoba, Dec 12 (Reuters) - ICE canola futures dipped on Tuesday under pressure from lackluster demand and weaker soy prices.
Slow sales by Canadian farmers to commercial handlers and limited interest from buyers are keeping canola prices range-bound, a trader said.
Most-active March canola RSH4 lost $8.80 to settle at $670.80 per metric ton.
January-March canola spread, the most active inter-month spread, traded 11,341 times.
Chicago Board of Trade soybean futures Sv1 backpedaled after reaching their highest price in December as traders assessed risks from unfavorable crop weather in Brazil.
Euronext February rapeseed futures /COMG4 also slipped.
*All figures in Canadian dollars unless noted