ICE Canadian canola futures dipped on Monday, dragged lower by sliding soyabean and corn prices that were weaker due to much-needed rains crossing dry areas of the US Midwest. Canola's losses were more modest than those of soyabeans and soyaoil, as strong crush margins have underpinned demand. Volume was thin, with only about 7,600 contracts traded.
November canola lost $2.20 to $450.20 per tonne. The loss ended a three-day winning streak. November-January canola spread traded 701 times. Chicago November soyabeans slid on beneficial US weekend rains. Paris Matif November rapeseed futures and Malaysian October palm oil futures fell.
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