ICE canola futures soften following stocks report

WINNIPEG, Manitoba, May 8 (Reuters) - ICE canola futures edged lower on Thursday following a few-surprises Statistics Canada crop stocks report, despite stronger competing vegoils.

• July canola RSN5 settled down 40 cents at $700.90 per metric ton. November RSX5 fell 50 cents to $662.50.

• Statistics Canada's quarterly stocks report of crops in-store as of March 31 did not rattle the market. The agency found 5.9 million tons of canola, while a Reuters survey of traders had average expectations of 6.09 million tons.

• The relative weakening Thursday is likely a product of "buy the rumour and sell the fact," said trader Tony Tryhuk of RBC Dominion Securities. "You saw some anticipation of a fairly supportive number and people took profits on that."

• Chicago Board of Trade soyoil futures BOv1 rose 2.37% on strong oil export sales, traders said.

• Euronext August rapeseed futures COMQ5 rose 0.69%. Malaysian palm oil futures FCPOc3 rose 1.96% Thursday. POI/

• The Canadian dollar CAD= weakened to a three-week low to the greenback on the U.S. Federal Reserve's reluctance to drop interest rates. CAD/