ICE canola futures fall as farmer selling increases

(All figures in Canadian dollars unless noted) WINNIPEG, Manitoba, Oct 15 (Reuters) — ICE canola futures fell on Thursday as farmer selling pressure increased in Canada, supported by a stronger Canadian dollar and weakness in Chicago soybeans. The November contract fell $10, or 1.26%, to $801.70 per metric ton Canola shrugged off relative strength in Chicago soyoil, as weakening soybeans and the rising loonie were counteracting factors Some farmer adviser services in Western Canada have been recommending that farmers make cash sales now, which has pressured prices, a trader said Much canola in farmer hands is still unpriced, with the Canadian harvest still not completed due to wet weather Canadian farm media are reporting that canola yields are average to below average, with some lost due to bad harvesting conditions Brent crude oil at around $105 per barrel remains a supporting factor for canola's dominant vegoil component Chicago soyoil rose 0.18%, while soybeans fell 1.12% GRA/ Euronext rapeseed futures fell 0.8% Malaysian palm futures were flat POI/ (Reporting by Ed White; Editing by Diti Pujara) ((ed.white@thomsonreuters.com)