ICE canola falls as US tariff threats loom

Reuters05:22

(All figures in Canadian dollars unless noted)

Jan 9 (Reuters) - ICE canola futures fell on Thursday in choppy trade under pressure from worries about reduced demand from the United States once President-elect Donald Trump takes office, traders said.

* Most-traded March canola futures fell $3.60 to $624.90 per metric ton.

* Trump has threatened tariffs against Canada, which could dent demand for Canadian canola from one of the top buyers.

* However, continued demand from China has added a floor to canola prices and may tighten Canadian canola supply, traders said.

* Chicago Board of Trade soyoil futures rose 1.17 cents to settle at 42.76 cents per pound.

* Some traders are adjusting positions ahead of the U.S. Department of Agriculture's monthly supply-and-demand and quarterly-stocks reports, which will be released on Friday.

* Malaysian palm oil fell 0.12%.

* European rapeseed futures rose 0.8%.

(Reporting by Heather Schlitz; Editing by Rod Nickel)

((Heather.Schlitz@thomsonreuters.com;))

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