ICE canola futures weaken but stay in range

WINNIPEG, Manitoba, Aug 14 (Reuters) - ICE canola futures fell on Thursday but stayed mostly within yesterday's rebound range.

• Volume has returned to the recent average and there are no signs of panic selling, traders said.

• November canola RSX5 settled down $5.30 at $654.50 per metric ton. January RSF6 fell $5.80 to $667.

• Since China's surprise imposition of temporary duties on Canadian canola on Tuesday, the canola market has been debating the outlook. Initial panic has been replaced by a more relaxed feeling, traders and analysts said.

• Canola stocks remain tight and should be tight for the 2025-26 year, regardless of the Chinese situation, say some traders. Any substitution by China of other supplies will create opportunities for Canadian canola to fill, although at a lower price.

• Recent rainfall will delay harvest in some areas of Saskatchewan but will help crops that are still filling, Saskatchewan's agriculture ministry said in an August 14 crop report. Soil moisture now is at least adequate in 86% of areas, which is much better than in most recent years, which have been damaged by drought.

• Chicago Board of Trade soybean futures Sv1 fell on profit-taking. Soyoil futures BOv1 fell 2.45%, more than giving back the gains of the previous three sessions.

• Euronext rapeseed futures COMc1 rose 0.42%. Malaysian palm oil futures FCPOc3 fell 0.76%. POI/

• The Canadian dollar CAD= fell, providing a cushion for canola futures, which are priced in the loonie. CAD/