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WINNIPEG: ICE Canadian canola futures dipped on Friday for the fifth straight session, pressured by strong crop progress and falling soyaoil prices.
Bearish technical charts and no major concerns about the Canadian crop are keeping prices under pressure, a trader said.
Most active November canola lost 60 cents to $468.50 per tonne. July-November canola spread traded 2,161 times.
Statistics Canada is scheduled on Monday to report final Canadian plantings estimates. Trade expects, on average, canola planting estimate of 20.7 million acres, up from April estimate of 20.6 million.