WINNIPEG, Manitoba: ICE canola futures dipped on Tuesday on spill-over pressure from weaker soybean prices, halting a four-day winning streak.
Canola has traded in a narrow range for the past month, but elevated prices have maintained long speculator positions, traders said.
March canola is trading above most significant moving averages.
Most-active March canola lost $3.90 to $993.70 per tonne.
January-March canola spread traded 2,652 times.
US soybean futures were pressured by weather forecasts that eased concerns about dryness in key production areas of crop development in Brazil and South America.
Euronext February rapeseed futures and Malaysian February palm oil futures edged higher.