WINNIPEG: ICE Canada canola futures slipped on Thursday for the second straight day, pressured by lower US soybeans amid forecasts for rain next week in some of Argentina's parched crop areas.
* Underpinning support for canola seen from weaker Canadian dollar.
* Farmer selling slowed in past two days as market dipped, which eased commercial hedge pressure.
* Most-active March canola futures lost $2.00 to $523.60 a tonne on volume of 10,694 contracts.
* May fell 40 cents to $528.40 on volume of 4,595 contracts. Back months gained.
* On Thursday, 43 January contracts were delivered.
* March-May spread traded 4,043 times, settling at a May premium of $4.80.
* Chicago March soybeans lost 21 US cents to US$12.09 per bushel on pressure from a firm US dollar and Argentine rain forecasts. March soyoil lost 0.97 cent to 52.06 US cents per lb.
* MATIF February rapeseed lost 0.3 percent.
* The Canadian dollar was trading at $1.0175 against the US dollar or 98.28 US cents at 1:14 p.m. CST (1914 GMT), down from Wednesday's close at $1.0123 versus the US dollar, or 98.78 US cents.
* US crude oil futures lost 1.4 percent to US$101.81 per barrel.
* Brazil grain state Parana cuts corn, soy forecasts.
* Argentine corn, soy to get ample rains - exchange.
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