ICE Canadian canola futures fell on Thursday for a third straight session, following pressure in allied US soybeans, but worries about snow stalling the canola harvest in Alberta lent underlying support, traders said. November canola shed $1.80 to settle at $489.90 per tonne and stayed inside the previous day's trading range.
The Saskatchewan canola harvest was 38 percent complete, according to Saskatchewan Agriculture's weekly crop report. Rain showers toward the end of the week slowed progress, particularly in eastern and northern regions.
The November-January canola spread traded 1,597 times between $6.20 and $6.70, premium January.
Chicago November soyabeans settled down 6-3/4 US cents at US$8.33-1/4 per bushel on seasonal harvest pressure and concerns over a tariff fight with China.
November Paris Matif rapeseed futures rose 0.2 percent and Malaysian November palm oil rose 0.3 percent.
The Canadian dollar was trading at $1.2998 to the US dollar, or 76.93 US cents at 1:18 p.m. CDT (1818 GMT) and firmed to a two-week high against its US counterpart.
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