ICE Canadian canola futures slipped on Monday along with soybean oil after posting a big gain to end the previous week. Canola is likely to trade sideways in the near term, as the new crop has ample moisture but commercial supplies are thin on limited farmer selling, a trader said.
July canola was down $1.30 at $462.20 per tonne at 8:28 am CDT (1328 GMT). Most-active November canola shed $1.00 to $459.60 per tonne. Chicago Board of Trade July soybeans gained 5 US cents to US $14.30-3/4 per bushel. July soybean oil dipped 0.26 US cent to 39.43 US cents per lb. NYSE Liffe Paris August rapeseed tacked on 0.2 percent. Malaysian July palm oil gained 0.3 percent. The Canadian dollar traded at $1.0864, or 92.05 US cents, down from Friday's close at $1.0856, or 92.11 US cents.
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