Canadian canola prices fall

ICE Canadian canola prices fell on Thursday, weighed down by weaker soy prices and a stronger Canadian dollar. Statistics Canada surprised traders by issuing a new, unscheduled canola crop estimate of 14.4 million tonnes, higher than its August estimate of 13.3 million, factoring in satellite and climate data. November canola lost $2.70 to $470.30 per tonne. January canola gave up $2.50 to $475.20 per tonne. November-January spread traded 3,383 times.

Chicago November soybeans dipped on concerns about exports. The Canadian dollar was trading at $1.3125, or 76.19 US cents at 1:18 pm CDT (1818 GMT), up from Wednesday’s close of $1.3171, or 75.92 US cents.



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