WINNIPEG: ICE canola futures fell on Monday in a selloff with rival oilseeds soy and palm.
Canola futures' losses were more modest than those of other oilseeds with demand strong and expectations that Canada's canola harvest is slightly smaller than Statistics Canada estimated in October.
Canola would normally see seasonal weakness into the new year and fresh bullish news is needed to push prices higher, a broker said.
January canola lost $4.90 to $578.10 per tonne.
January-March canola spread traded 6,247 times.
US soybean and corn futures dipped as welcome rains fell on parts of Brazil and Argentina.
Euronext February rapeseed futures and Malaysian February palm oil futures dipped.
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