ICE canola futures extend slump on vegoil weakness

All figures in Canadian dollars unless noted

WINNIPEG, Manitoba, Jan 16 (Reuters) - ICE canola futures finished at their lowest level in four weeks on Thursday on follow-through selling from Wednesday and broad weakness in vegoils markets.

• March canola RSH5 settled down $23.30 at $606.80 per metric ton, the lowest close since Dec. 19.

• Traders attributed the sharp losses to continuing worries about canola being left out of U.S. Department of Agriculture interim biofuels rules announced Wednesday, plus follow-the-leader behavior with declines in other vegoils.

• Chicago Board of Trade soyoil futures BOv1 fell 2.7% to close just above 45 U.S. cents per pound. Statistics showing high soyoil stocks in December provided traders with a reason to take profits on a commodity that had hit two-month highs.

• Malaysian palm oil futures FCPOc3 fell 4.4% to the lowest since the beginning of October on weakness in rival oils and low exports in the first half of January.

• The Canadian dollar CAD= fell Thursday, providing a cushion to canola prices. CAD/ \

(Reporting by Ed White;
Editing by Sandra Maler)

((ed.white@thomsonreuters.com))