ICE Canadian canola futures dipped on Wednesday, with trading muted as concerns about bad weather disrupting the harvest were outweighed by declines in soyabeans that dragged canola lower. The benchmark November canola futures contract closed 40 cents lower at $448.90 per tonne.

Canola took its lead from a fall in soyabean prices, one industry source said, which offset concerns about weather forecasts calling for snow in the Canadian Prairies later this week.

The November-January canola spread traded 3,777 times, closing at an $8.80 January premium, widening from $8.40 on Monday. The January-March spread traded 1,047 times.

Copyright Reuters, 2019