ICE Canadian canola futures lost ground on Thursday, pressured by ample supplies and weakness in rival oilseeds. Buying was subdued and speculation that canola supplies might be larger than previously expected leading into mid-summer weighed on canola, a trader said. March canola shed $2.10 to $478.70 per tonne. May canola lost $2.20 to $487.20 per tonne.
March-May canola spread traded 8,337 times. Spreading was a major feature of trading. Chicago March soyabeans fell on slumping US exports and China cancellations.