ICE Canadian canola futures eased on Monday, and posted a loss for the year, as North American oilseeds face export competition early in 2019 from South American supplies. The nearby canola contract, on a continuous basis, lost 1.5 percent in 2018, its second straight yearly decline. Most-active March canola dipped 40 cents to $484.20 per tonne, in thin trade with many traders on holidays.

March-May canola spread traded nearly 600 times. Chicago January soybeans dipped on technical selling. February Paris Matif rapeseed futures rose and Malaysian March palm oil futures closed slightly lower. The Canadian dollar was trading at $1.3647 to the US dollar, or 73.28 US cents at 12:50 p.m. CST (1850 GMT). ICE canola futures will not trade during normal hours on Tuesday, the New Year's holiday.

Copyright Reuters, 2019