WINNIPEG: ICE Canada canola futures declined on Friday for a fourth consecutive session, weighed down by farmer hedge selling as the canola harvest expanded as well as spillover pressure from US soy markets, traders said.

However, the spot contract ended the month up 7.7 percent, rallying from a 20 percent plunge in July.

November canola settled Friday down $3.80 at $522.30 per tonne on volume of 9,990 contracts.

January canola fell $4.40 to $527.70 per tonne on volume of 1,773 contracts.

Commercials seen as the day's best buyers, while fund activity was light.

Chicago November soybeans ended down 11 US cents at US$13.57-1/2 per bushel on profit-taking at month's end and forecasts for welcome rains in parts of the US Midwest.

MATIF Paris November rapeseed fell 0.5 percent.

Malaysian palm oil futures eased as investors booked profits, although healthy demand and a still-weak ringgit stemmed the decline.

The Canadian dollar was trading at $1.0530 versus the US dollar, or 94.97 US cents, steady with Thursday's close.

Germany's 2013 winter rapeseed crop is forecast at 5.78 million tonnes, up from 4.8 million tonnes in 2012, the German agriculture ministry said, adding that harvests were better than expected after extreme swings in weather.

ICE Canada will be closed on Monday for the Labour Day holiday.