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WINNIPEG: ICE Canada canola futures dropped on Monday for the second straight session, pressured by a dip in soybean prices and milder weather ahead of planting season in Western Canada.
Canadian farmers are expected to plant the second-largest canola area on record this spring, of 21.1 million acres.
May canola lost $6.40 at $463.30 per tonne.
July gave up $6.00 to $473.30 per tonne.
May-July spread widened to a July premium of $10.
Chicago May soybeans shed 15-1/4 U.S. cents at US$14.98-3/4 per bushel on improved U.S. weather and profit-taking.
Malaysian May palm oil was about flat.
Canadian dollar was trading at $1.1017 versus the U.S. dollar or 90.77 U.S. cents at 1:07 p.m. CDT (1807 GMT), down slightly from Thursday's close at $1.1013 to the greenback, or 90.80 U.S. cents.
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