ICE Canadian canola futures dipped on Monday after the US government forecast record-large global supplies. The harvest pushed US soybean stocks as of December 1 to 2.524 billion bushels, according to the US Department of Agriculture, up from 2.154 billion bushels a year ago but below the 2.590 billion bushels predicted by the average of trade forecasts.
Canola, which usually follows fellow oilseed soybeans, didn't fall as dramatically, as weakness in the Canadian dollar was supportive. Most-active March canola fell $5.60 to $446.60 per tonne. Chicago Board of Trade March soybeans plunged 36-1/4 US cents to US $10.16 per bushel. NYSE Liffe Paris February rapeseed shed 1.5 percent. Malaysian February palm oil rose 0.7 percent. The Canadian dollar CAD= was trading at $1.1948, or 83.70 US cents at 12:47 pm CST (1847 GMT), down from Friday's finish of $1.1866, or 84.27 US cents.