WINNEPEG: ICE Canada canola futures slipped on Monday, touching a one-week low, as investors took profits with US grains falling, traders said.
* Canola hit contract highs last week and some pullback is likely ahead of the April 24 Statistics Canada planting intentions report, a trader said. The report is expected to show record-high canola acreage.
* Canola seen underpinned by modest crusher and exporter buying, with Canadian dollar weaker early in the session.
* May canola lost $5.70 at $620.20 per tonne on volume of 6,544 contracts. Dipped to $619.50, the contract's lowest price since April 9.
* July canola gave up $5.30 to $615.20 per tonne on volume of 10,107 contracts.
* May-July spread traded 5,758 times, narrowing to a May premium of $5.00. July-November spread widened to a July premium of $41.20, trading 2,886 times.
* Chicago May soybeans lost 16-3/4 US cents to US$14.20 per bushel on profit-taking. May soyoil lost 0.86 cent to 55.66 US cents per lb.
* MATIF May rapeseed slipped 0.7 percent.
* The Canadian dollar was trading at par against the US dollar at 1:16 p.m. CDT (1816 GMT), down slightly from Friday's close at $0.9984 versus the US dollar, or US$1.0016.
* US light crude oil gained 0.1 percent at $102.93 per barrel.
* Canada farmland values rise.
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