ICE canola futures dip with soyoil, rapeseed

Reuters04-25

(All figures in Canadian dollars unless noted)

WINNIPEG, Manitoba, April 24 (Reuters) - ICE canola futures dipped on Wednesday, weighed down by weaker soyoil and European rapeseed prices.

• Light selling by Canadian farmers to commercials and technical resistance added pressure on canola prices, a trader said.

• Most active July canola lost $6.80 to settle at $639.40 per metric ton.

• Earlier, the July contract hit its highest price since April 3.

• July-November canola spread, the most active inter-month spread, traded 5,427 times.

• Chicago Board of Trade soybean futures ticked higher as traders assessed prospects for U.S. corn and soy planting weather this week.

• Euronext August rapeseed futures eased.

(Reporting by Rod Nickel in Winnipeg; Editing by Richard Chang)

((rod.nickel@tr.com; X: @RodNickel_Rtrs))

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