Canadian canola futures fall

ICE Canadian canola futures fell on Friday, pressured by weakness in US soybeans and easing concerns about Canadian planting weather. Alberta canola planting is 49 percent complete, and overall seeding is well behind the normal pace, the provincial government said. Even so, the Environment Canada forecast is warm and dry into next week for northern Alberta, where delays are most acute.
July canola lost $3.60 to $516.80 per tonne. Shed 1.3 percent for the week. New-crop November canola gave up $4.10 to $489.80 per tonne. July-November canola spread traded 2,196 times. Chicago Board of Trade July soybeans fell on soy-corn spreading. NYSE MATIF August rapeseed and Malaysian July palm oil dropped.