ICE Canada canola futures slipped on Tuesday, as grains fell under pressure from weaker equities and crude oil, amid renewed concerns about global economic growth and Greek debt. Lower Canadian dollar underpinned canola. Benchmark May canola dropped $4.00 to $571.20 per tonne on volume of 647 contracts at 8:20 am CST (1420 GMT). July canola lost $3.90 to $572.00 per tonne on volume of 137 contracts.
Traders see canola down $4 at Chicago Board of Trade open. CBOT soybeans called to open down 3 to 4 US cents per bushel, pressured by a strong US dollar and weak equities. MATIF May rapeseed lost 0.6 percent at 8:17 am CST (1417 GMT). The Canadian dollar was trading early at $1.0012 against the US dollar or 99.88 US cents, down from Monday's close at $0.9942 versus the US dollar, or US $1.0058. US light crude oil dropped 1.3 percent early at $105.31 per barrel. China says has enough corn reserves. Australia set for bumper harvests; bigger canola crop seen.
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