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WINNIPEG: ICE Canada canola futures dipped on Thursday, pulling back after a three-day rally on profit-taking and weaker soybean markets.
News of Chinese defaults on purchases of U.S. and Brazilian soybeans pressured U.S. soy futures, spilling over to canola.
Transportation of crops from Canadian elevators to ports has improved, causing a bump in prices this month.
May canola lost $3.60 at $469.50 per tonne.
July gave up $3.60 to $479 per tonne.
July-November spread widened to a November premium of $15.
Chicago May soybeans shed 13 U.S. cents at US$14.82-1/4 per bushel.
NYSE Liffe Paris May rapeseed ended flat.
Malaysian May palm oil eased 0.2 percent.
Canadian dollar was trading at $1.0918 versus the U.S. dollar or 91.59 U.S. cents at 12:57 p.m. CDT (1757 GMT), down from Wednesday's close at $1.0872 to the greenback, or 91.98 U.S. cents.
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