ICE Canadian canola futures slipped on Wednesday, pressured by a more favourable forecast for Argentina soyabeans. Argentina forecasts on Wednesday trended wetter after February 4. Lack of canola export demand and limited trading by funds, which hold a large net short position, also weighed down canola, one analyst said.
For the month, most-active canola gained 1.7 percent. March canola lost $1.60 at $496.70 per tonne. May canola shed $1.80 to $503.10 per tonne.