ICE canola futures fall as traders take profits, hedge crop

(All figures in Canadian dollars unless noted) WINNIPEG, Manitoba, Sept 18 (Reuters) — ICE canola futures settled lower on Friday, as traders booked profits and farmers locked in prices. November canola futures fell $11.60 to $822.30 per metric ton, a 1.52% loss. Other contracts fell a similar amount. The week saw a small gain, with Chicago soyoil weakness holding back what traders said would otherwise have been bigger gains. The Statistics Canada report on Wednesday showed a canola crop larger than expected, but which traders are already discounting because of bad harvest weather. With demand strong, a slightly larger crop did not scotch most traders' expectations that the carryout should not be large. A trader said farmers are being more active hedging as more of the crop comes in, despite the slowness caused by rain, with plus-$800 prices finally drawing in more pricing. Canada's harvest continues to proceed slowly, with rain delays. Brent crude oil edged lower towards $103 per barrel. Chicago soyoil fell 0.75%. Soybeans fell 1.23%. GRA/ Agriculture market analysts will be closely watching the Donald Trump-Xi Jinping talks next week for signs of greater or less commitments for C