WINNIPEG, Manitoba, June 25 (Reuters) - ICE (NYSE:ICE) canola futures dipped on Tuesday for the third straight day, touching the lowest nearby price in four weeks, as recent rains improved crop prospects in Western Canada.
* Rain in the past week has offered some relief to Western Canadian farmers. Weaker soyoil prices and technical selling added to canola's drop, a trader said.
* July canola RSN9 gave up $6.30 to $445.80 per tonne.
* Most-active November canola RSX9 shed $9 to $456.10 per tonne. Technical selling was seen after the contract fell below its 50-day moving average around $462.
* July-November canola spread traded 4,643 times.
* Traders adjusted positions ahead of Wednesday's scheduled Statistics Canada planting report.
* Traders and analysts surveyed by Reuters expect, on average, Canadian canola plantings of 20.7 million acres this year, down from early spring intentions and last year. Chicago July soybeans SN9 fell as a drier U.S. Midwest forecast opened planting opportunities. Paris Matif August rapeseed futures /COMQ9 and Malaysian September palm oil futures /FCPOU9 slipped.
* The Canadian dollar CAD= strengthened against its U.S. counterpart on Tuesday, approaching last week's three-month high, as domestic data showed a much stronger-than-expected rise for wholesale trade in April. CAD/