Canadian canola falls to 3-1/2-month low

ICE Canadian canola fell on Thursday to a nearly 3-1/2-month low, after Statistics Canada estimated much larger than expected midsummer stockpiles of the crop. Statscan pegged July 31 Canadian canola stocks at 2.3 million tonnes, down 23 percent from last year but well above the average trade expectation of 1.4 million. Most-active November canola lost $8.40 or 1.8 percent to $457.40 per tonne. It touched $456.70, the lowest nearby price since late May.

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