CHICAGO: ICE canola futures closed lower in light trading on Monday, pressured by export uncertainty after top importer China suspended clearance of canola shipments from Richardson International last week, traders said.
* China confirmed late last week that it would no longer allow canola imports from Canadian agribusiness Richardson International after saying it found pests. China also said it would step up inspections of Canadian canola until further notice.
* Canola exporters are reluctant to book fresh shipments to China, worried that they could be delayed or turned away. Such delays could cost sellers millions of dollars in demurrage and other fees.
* The most-active May canola contract settled down $1.50 at $455.80 per tonne.
* July canola fell $2.00 and settled at $464.10.
* Chicago May soybeans finished 5-3/4 US cents lower at US$8.90 per bushel on hefty global supplies and on worries over the slow pace of trade negotiations between Washington and Beijing.
* Malaysian May palm oil futures fell to a new contract low on Monday, shedding 0.28 percent.
* The Canadian dollar had little impact on canola on Monday. It was trading near unchanged at $1.3415 to the US dollar, or 74.54 US cents, at 2:16 p.m. CDT (1916 GMT)
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