ICE canola futures slip

CHICAGO: ICE canola futures fell on Wednesday for the sixth consecutive session, pushed lower by flagging global edible oils markets and forecasts for beneficial rains across the Canadian Prairie, traders said. Most-active November canola lost $27.80 to $696.40 per tonne.

The November contract fell through key technical support at its 50-day moving average. Chicago Board of Trade July soybean futures fell 17-1/4 US cents to US $14.48-1/2 per bushel. CBOT October and December soybean oil ended the day limit-down on profit taking after reaching all-time highs last week, traders said.

November-January canola spread traded 1,516 times. Euronext August rapeseed futures and Malaysian August palm oil futures eased on Wednesday.