ICE canola futures glance at Statscan, twitch on Trump

WINNIPEG, Manitoba, June 27 (Reuters) - ICE canola futures had little reaction to Statistics Canada's seeded acreage report on Friday, but were jolted by the U.S. president's announcement that he had suspended trade talks with Canada.

• July canola RSN5 settled down $14 at $683.20 per metric ton. November RSX5 fell $18.60 to $692.90.

• In the last hour of trading, U.S. President Donald Trump announced in a social media post that he was "terminating" trade talks with Canada, that had previously been seen to be on a solid footing. Trump said Canada's digital services tax was the trigger for his action. He also denounced Canadian dairy policy.

• The Statistics Canada seeded acreage report contained no major crop area surprises, but a substantial revision to the 2024 canola production number, upping it by more than a million tons, caught many traders by surprise. The new number is closer to the reality traders have sensed for months, but such a significant change rattled those who want to be able to rely upon Statscan numbers.

• The canola area number, at 21.5 million acres, was slightly smaller than a Reuters survey result of 21.7 expected, but was significantly lower than expected by a number of analysts who had expected 22 million.

• Chicago Board of Trade soyoil futures BOv1 fell 0.45%.

• Euronext August rapeseed futures COMQ5 rose 0.05%.

• Malaysian palm oil futures FCPOc3 were not traded due to a holiday. POI/

• The Canadian dollar CAD= fell on the Trump post. CAD/