ICE canola futures fall for eighth day; farmer selling pressures markets

ICE canola futures dropped on Friday for a eighth straight session pressured by farmer selling of recently-harvested crops, traders said.

* Farmers have held canola supplies on-farm at high rates, one trader noted, but recent futures selloffs have pushed farmers to move stockpiles to market this week.

* January canola (RSF3) lost $7.00 to settle at $805.60 per tonne.

* March-May canola spread, the most active inter-month spread, traded 2,064 times.

* Euronext February rapeseed futures (/COMG3) moved higher.