ICE Canadian canola futures fell Thursday on farmer selling after Wednesday's climb and spillover weakness from declines in allied US soy markets, traders said. March canola fell $3 at $532.40 per tonne. ICE reported 103 deliveries. Most-active May canola fell $4.50 at $528.40 per tonne.
Farmer selling emerged after the May contract reached $533.30 on Wednesday, its highest since February 14. May-July canola spread traded roughly 2,300 times. Chicago Board of Trade May soybeans settled down 14-1/2 US cents at US$10.37-1/4 per bushel on profit-taking after a two-session climb, and on the expanding harvest of a projected record-large Brazilian soy crop. NYSE Liffe May rapeseed fell 0.4 percent while May Malaysian palm oil rose 1.1 percent.
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