ICE Canadian canola futures dipped on Friday, registering a 2.4 percent weekly loss, on a lack of buying demand in thin trading volume. Trade eyeing rain forecast for Friday and weekend in dry parts of Western Canada. Alberta top soil moisture rated 43 percent poor, up 14 percentage points from last week. Limited farmer selling and Canadian dollar weakness underpinned canola. July canola lost $3.40 at $485.20 per tonne.
Most-active November canola dipped $4.20 to $483.20 per tonne. July-November spread traded 3,421 times. Chicago July soybeans ended slightly lower. Malaysian August palm oil fell, but NYSE Liffe Paris August rapeseed rose. The Canadian dollar was trading at $1.2306, or 81.26 US cents at 1:02 pm CDT (1802 GMT), down from Thursday's close of $1.2275 to the greenback, or 81.47 US cents.