ICE Canada canola futures fall on hedges, weaker vegoils

WINNIPEG: ICE Canada canola futures dropped on Tuesday, pressured by a pickup in commercial hedges and weakness in rival vegetable oils palm and soyoil.

* November canola lost $1.10 at $507 per tonne.

* January canola gave up 40 cents at $513.70.

* November-January canola spread traded 12,024 times, and was a major trading feature, with the November contract expiring next month.

* Chicago November soybeans dipped on technical selling.

* NYSE Liffe February rapeseed and Malaysian January crude palm oil fell.

* The Canadian dollar was trading at $1.3325 to the US dollar, or 75.05 US cents at 1:20 p.m. CDT (1820 GMT), higher than the Bank of Canada's official close of $1.3386, or 74.70 US cents.