Canadian canola futures slide

ICE Canadian canola futures slipped on Thursday for the fifth straight day, as improving crop weather on the Canadian Prairies and in the US Midwest weighed down crop values. Much of the Canadian province of Saskatchewan received rain in the past week, but significant rainfall is still needed, the provincial government said. Modest commercial buying early underpinned canola, a trader said.
Most-active November canola lost $1.80 to $452 per tonne. July-November canola spread traded 2,656 times. Chicago July soyabeans drifted lower as investors squared positions ahead of government reports on acreage and stocks due on Friday and as improving US Midwest weather boosted crop prospects. Paris Matif August rapeseed futures and Malaysian September palm oil futures eased.