Business Recorder (29/05/2020) - ICE Canadian canola futures dipped on Wednesday, giving up gains after a Canadian judge ruled against a Chinese executive held in an extradition case.

Huawei Technologies Co Ltd's Chief Financial Officer Meng Wanzhou lost a key aspect of the trial on her extradition to the United States, a Canadian court announced.

China has limited imports of Canadian canola for more than a year, since Meng's arrest in late 2018.

July canola, the most active contract, shed $1.30 to $463.50 per tonne. The November contract rose slightly.

Canola prices had taken spillover strength earlier this month from rival vegetable oils – palm oil and soyaoil, a trader said. July-November canola spread traded 3,835 times.

US soyabean futures firmed as a slowdown in plantings in the Midwest and forecasts for more rain lifted prices to two-week highs, although technical selling kept a lid on gains.

Read more at https://www.brecorder.com/2020/05/29/600967/canadian-canola-futures-fall/