Canadian ICE rapeseed futures closed lower on the 30th, hampered by factors such as the fall in CBOT soybeans (4306, -20.00, -0.46%), speculative selling, and declining demand from domestic crushers.
According to a report from the Dow Jones Newswires on January 30, Canadian ICE rapeseed futures closed on the 30th. Market participants said that the decline in the Chicago Board of Trade (CBOT) soy-based futures and the clearing based on technical trends were the main reasons for the price drop.
Canadian ICE March rapeseed futures fell 7.20 Canadian dollars, to close at 517.20 Canadian dollars / ton; May futures contract fell 7.20 Canadian dollars, to close at 524.10 Canadian dollars / ton; November futures contract fell 7.10 Canadian dollars, to close At 502.30 Canadian dollars/metric ton.
Before the March contract expired, the rolling operation of large index funds in recent months was one of the characteristics of the rapeseed trading activity.
CBOT soybeans and soybean oil (8998, -70.00, -0.77%) futures suffered a sell-off, dragging down the rapeseed contract. Speculative selling based on technical trends, which is related to technical resistance above, helped expand the fall of rapeseed futures.
Demand for domestic crushers fell, adding to negative price sentiment, as the western Canadian crusher’s profit margins were squeezed.
Brokers said that continued hedging by grain companies has also stimulated the decline of rapeseed, as producers are still good sellers for the cash channel.
Traders pointed out that the pricing of existing and new export businesses in commercial accounts has eased the decline of rapeseed.
It is expected that the volume of trading on the 30th will be 24,019 lots, which is higher than the 23,006 lots in the previous trading day. Of these, 19,850 contracts are related to spread trading.
According to a report from the Dow Jones Newswires on January 30, Canadian ICE rapeseed futures closed on the 30th. Market participants said that the decline in the Chicago Board of Trade (CBOT) soy-based futures and the clearing based on technical trends were the main reasons for the price drop.
Canadian ICE March rapeseed futures fell 7.20 Canadian dollars, to close at 517.20 Canadian dollars / ton; May futures contract fell 7.20 Canadian dollars, to close at 524.10 Canadian dollars / ton; November futures contract fell 7.10 Canadian dollars, to close At 502.30 Canadian dollars/metric ton.
Before the March contract expired, the rolling operation of large index funds in recent months was one of the characteristics of the rapeseed trading activity.
CBOT soybeans and soybean oil (8998, -70.00, -0.77%) futures suffered a sell-off, dragging down the rapeseed contract. Speculative selling based on technical trends, which is related to technical resistance above, helped expand the fall of rapeseed futures.
Demand for domestic crushers fell, adding to negative price sentiment, as the western Canadian crusher’s profit margins were squeezed.
Brokers said that continued hedging by grain companies has also stimulated the decline of rapeseed, as producers are still good sellers for the cash channel.
Traders pointed out that the pricing of existing and new export businesses in commercial accounts has eased the decline of rapeseed.
It is expected that the volume of trading on the 30th will be 24,019 lots, which is higher than the 23,006 lots in the previous trading day. Of these, 19,850 contracts are related to spread trading.
Dehydrated Green Onion,Dehydrated Cabbage,Dehydrated Carrot,Dehydrated Bell Peppers
Xinghua Jiahe Foods Co., Ltd. , https://www.jiahefoods.com