May settled down 10 cents at $385.90 on a volume of 622 contracts. The March/May spread traded 492 times between $6.60 and $7.30, premium May. The July/November spread traded 250 times at $6.70 to $7.60, premium November. Crushers were noted outright buyers, responding to strong crush margins.
Canola held nearly steady while Chicago Board of Trade soyabean futures tumbled on a stronger US dollar and concerns about China, the world's top soya buyer, curbing bank lending. CBOT March soyabeans settled down 13-1/2 US cents at US $9.50 per bushel. CBOT March soyaoil fell 0.58 US cent to settle at 36.57 US cents per lb.
Canadian dollar fell to a two-week low as the US dollar rose and as unexpectedly low Canadian inflation data lessened the chances that the Bank of Canada will raise interest rates any time soon. The Canadian dollar was trading at $1.0470 against the US currency or 95.51 US cents at 1:37 pm CST (1937 GMT), down from Tuesday's finish of $1.0307 against the US dollar or 97.02 US cents. Light crude oil futures were down US $1.40 at US $77.62 per barrel.