ICE Canadian canola futures eased on Monday, pressured by commercial hedges. Funds were seen building a small net long position of 1,000 July contracts, with July trading above its 100-day moving average. Most-active July canola dipped 30 cents at $457.80 per tonne in thin trading. The new-crop November canola shed 20 cents to $449.80 per tonne.
ICE Futures Canada reported no delivery of May contracts. Expiry for the nearby contract is Thursday. July-November spread traded 2,499 times. Chicago Board of Trade July soybeans eased on positioning ahead of Tuesday's US Department of Agriculture report. Malaysian July palm oil gained 1.5 percent, and NYSE Liffe Paris August rapeseed also finished higher. The Canadian dollar was trading at $1.2079, or 82.79 US cents, at 1:17 pm CDT (1817 GMT), up slightly from the Bank of Canada's official close of $1.2090, or 82.71 US cents, on Friday.
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