ICE Canadian canola futures fell on Thursday to a two-month low, pressured by a stronger Canadian dollar and Statistics Canada's larger than expected estimate of year-end supplies. The government agency pegged Canada's December 31, 2015, canola stockpile at 12.1 million tonnes, versus the average expectation for 11.5 million.
Modest technical selling also weighed down the market, a trader said. March canola lost $3.60 at $468.30 per tonne. May canola gave up $3.90 at $477.40 per tonne. March-May canola spread traded 5,783 times. Chicago March soybeans last traded slightly lower on technical selling and robust South American crop prospects. Malaysian April palm oil fell and NYSE Liffe Paris May rapeseed eased. The Canadian dollar was trading at $1.3743 to the greenback, or 72.76 US cents at 1:12 pm CST (1912 GMT), higher than Wednesday's official close of $1.3773, or 72.61 US cents.