ICE Canadian canola futures fell on Monday to the lowest new-crop November price in over five months, reflecting weakness in soybeans and rapeseed. Canola's drop may also be due to long investors closing their position, or getting out of long canola, short soybean spreads, a trader said. Uncertainty continues about the size of the canola crop after heavy rains flooded large areas of Saskatchewan and Manitoba earlier this month.
November canola lost $6.80 to $436.50 per tonne at 8:18 am CDT (1318 GMT). Chicago Board of Trade November soybeans fell 14-1/4 US cents at US $10.71 per bushel. Malaysian October palm oil eased 0.6 percent. NYSE Liffe Paris November rapeseed lost 2.2 percent. The Canadian dollar traded at $1.0740, or 93.11 US cents, down from Friday's close at $1.0736 to the greenback, or 93.14 US cents.
