WINNIPEG: ICE Canadian canola futures slipped on Wednesday, pressured by a more favourable forecast for Argentina soyabeans.

Argentina forecasts on Wednesday trended wetter after February 4.

Lack of canola export demand and limited trading by funds, which hold a large net short position, also weighed down canola, one analyst said.

For the month, most-active canola gained 1.7 percent.

March canola lost $1.60 at $496.70 per tonne.

May canola shed $1.80 to $503.10 per tonne.—Reuters