ICE Canadian canola futures dropped on Friday on technical and commercial selling and pressure from weaker vegetable oils. The market's plunge looks overdone, and may be due for a rebound, a trader said. May canola lost $5.80 to $482.50 per tonne. For the week, the most-active contract lost 2 percent. July canola gave up $5.50 to $489.30 per tonne. May-July canola spread traded 8,848 times. Chicago Board of Trade May soyabeans fell as US plantings rose.