ICE canola futures fall on weaker soyoil

Oct 13 (Reuters) — ICE canola futures settled lower on Tuesday, tracking with falling soyoil futures. Harvest pressure in the US and Canada and a stronger Canadian dollar have also added weakness to canola futures. Spread trading and contract rolling have also roiled the market. The US Environmental Protection Agency proposed on Tuesday to make larger refiners blend more biofuels into their products over the next two years, a move that would support demand for soyoil to produce bio-based diesel. November canola fell C$3.40 to C$813.30 per metric ton. Chicago Board of Trade December soyoil settled 0.61 cent lower at 68.02 cents per pound. Euronext rapeseed futures rose 0.19%. Malaysian palm futures rose 1.11%. POI/ (Reporting by Heather Schlitz; Editing by Jamie Freed) ((Heather.Schlitz@thomsonreuters.com;)