WINNIPEG, Manitoba, Dec 20 (Reuters) – ICE Canada canola futures dipped on Tuesday, weighed down by weakness in soybean prices that reflected favorable crop conditions in Argentina.
* Canola was underpinned by talk of export sales. March contract finished slightly higher than its closely watched 50-day moving average, and a dip below that level could trigger technical selling on Wednesday, a trader said.
* January canola dropped $5.80 at $511.70 per tonne.
* Most-active March canola shed $4.60 at $521.10 per tonne.
* January-March canola spread was the main trading feature, trading 17,342 times as investors rolled positions forward before delivery next month.
* Chicago January soybeans lost ground on long liquidation amid welcome rains in Argentina.
* NYSE Liffe February rapeseed and Malaysian February crude palm oil fell.
* The Canadian dollar was trading at $1.3374 to the U.S. dollar, or 74.77 U.S. cents, at 1:37 p.m. CST (1937 GMT), higher than Monday’s close of $1.3417 to the greenback, or 74.53 U.S. cents.
