Canadian canola futures lower

ICE Canadian canola futures closed lower on Wednesday on a mix of profit-taking after this week's multi-month highs and slowing demand from oilseed processors as crush margins declined, traders said.
Additional pressure stemmed from continued strength in the Canadian dollar, which tends to make Canadian products less competitive on the world market. May canola ended down $3.70 at $523.40 per tonne.
July canola fell $4.70 to $528.00 and new-crop November settled $3.80 lower at $516.10 a tonne.
The May/July spread traded 6,454 times between $4.60 and $5.60, premium July.
Allied Chicago Board of Trade soyabean futures closed lower, retreating from early strength on profit-taking and technical selling.