CHICAGO: ICE canola futures weakened on Tuesday, tracking a decline in Chicago Board of Trade soyaoil futures and other vegetable oils, traders said.

Most-active March canola dropped $4.80 to $979.20 per tonne.

January-March canola spread traded 4,628 times as investors exited their positions in the January contract.

US soybean futures rose about 1% on Tuesday as soyameal futures soared on expectations of rising demand for the high-protein feed ingredient, analysts said.

Euronext February rapeseed futures dropped 0.4% and Malaysian February palm oil futures fell 0.7%