NEW YORK, May 15 (Reuters) - ICE (NYSE:ICE) canola futures dipped on Wednesday, pressured by weak demand and abundant supplies.
* Canola prices are caught in a "tug of war" between concerns about delayed U.S. planting that underpin crop prices, and bearish factors such as Canada's dispute with canola buyer China, a trader said.
* Planting weather has been favorable in Western Canada, although there are concerns about crop development due to dry conditions.
* July canola RSN9 lost 90 cents to $441.50 per tonne, giving up earlier gains.
* July-November canola spread traded 3,705 times.
* Chicago July soybeans SN9 rose on short-covering and U.S. planting concerns. Paris Matif August rapeseed futures /COMQ9 and Malaysian July palm oil futures /1FCPON9 rose.
* The Canadian dollar CAD= weakened to a nearly one-week low against its U.S. counterpart as stocks and oil prices fell and as domestic data showed evidence of lower underlying inflation. CAD/