ICE canola futures dip

WINNIPEG, (Manitoba): ICE canola futures dipped on Tuesday, weighed down by weaker soybean oil and rapeseed prices. Canola is also under pressure from an uptick this week on selling by Canadian farmers to the cash market, and speculators easing off short-covering, a trader said. May canola slid 90 cents to settle at $777.30 per tonne.

May-July canola spread, the most active inter-month spread, traded 8,347 times. Chicago corn and soy futures fell as traders took profits, analysts said.

Euronext May rapeseed futures also dipped, and is pressured by expectations for ample supplies in Europe.