ICE Canadian canola futures fell on Wednesday, following soybeans lower after a US Department of Agriculture report pointed to bumper supplies of soybeans and corn. Abundant grain, soybean supplies on the way - USDA. Canola was also weighed down by generally favorable Western Canada weather for crop development, traders said. July canola slipped $3.40 to $458.30 per tonne. November canola lost $5.00 to $453.70 per tonne. July-November spread widened to a July premium of $4.60.
Chicago Board of Trade July soybeans dove 17 US cent at US $14.45-1/2 per bushel. July soybean oil gave up 0.52 US cent to 38.42 US cents per lb. NYSE Liffe Paris August rapeseed rose slightly. Malaysian July palm oil shed 0.3 percent. Canadian dollar was trading at $1.0865 or 92.04 US cents at 1:27 pm CDT (1827 GMT), up from Tuesday's close at $1.0904 to the greenback, or 91.71 US cents.
