WINNIPEG, (Manitoba): ICE canola futures dropped on Wednesday for a fifth straight session, extending their longest skid in 2-1/2 months. Canola's weakness was due to declines in soybean and soyoil prices, but canola's losses were more limited, a broker said. The Canadian crop is expected to be much smaller due to drought.

November canola shed $4.50 to $890.80 per tonne. Some later delivery months posted gains. In the Canadian province of Manitoba, 7% of the canola harvest is complete, the provincial government said. The March-May canola spread was unusually active, trading 2,107 times.

US soybean futures dropped as concerns over hurricane disruption to US exports kept a lid on prices. Euronext November rapeseed futures and Malaysian October palm oil futures also declined.