ICE Canadian canola futures dipped on Friday and posted a weekly loss pressured by technical selling and weaker US soybean prices. Funds sold an estimated 6,000 May contracts, cutting their net long position to about 30,000, a trader said.
Weakness in the Canadian dollar and routine buying by exporters underpinned the market.
May canola lost $5.30 at $448.60 per tonne, finished down 2.7 percent for the week.
July canola gave up $6.30 at $449.60 per tonne.
May-July spread traded 4,215 times.
Chicago Board of Trade May soybeans fell to a one-week low on pressure from the expanding South American harvest and forecasts for huge plantings in the United States.
Malaysian May palm oil and NYSE Liffe Paris May rapeseed both fell.
The Canadian dollar was trading at $1.2590, or 79.43 US cents at 1:24 pm CDT (1824 GMT), down from Thursday's close of $1.2471, or 80.19 US cents.
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