Canadian canola futures fall

ICE Canadian canola futures slipped on Tuesday, weighed down by weaker soyaoil futures. Lack of buying from crushers due to weakening crush margins also weighed on canola. Technical-trading funds were on the sidelines, a trader said, as they have built an estimated long position of 22,000 July contracts.
Most-active July canola fell $2.20 to $530.10 per tonne. New-crop November canola lost $1.30 to $517.20 per tonne. ICE Futures Canada reported delivery of 200 May contracts on Tuesday. The July-November canola spread traded 1,645 times. Chicago July soyabeans rose, following strength in soyameal. The Canadian dollar was trading at $1.2875 to the US dollar, or 77.67 US cents at 1:14 pm CDT (1814 GMT).