(All figures in Canadian dollars unless noted)
CALGARY, Alberta, May 31 (Reuters) - ICE Canada canola futures sagged on Thursday, pressured by rain that improved soil moisture conditions in parts of Western Canada, and weaker oilseed prices.
* An estimated 88 percent of Saskatchewan canola planting was complete as of Monday. GRO/SAS
* Canola was underpinned by weakness in the Canadian dollar, which lost ground after the United States imposed tariffs on steel and aluminum imports. July canola RSN8 lost $1.60 to $534.10 per tonne. The contract is vulnerable to technical selling with further weakness, given an estimated large net long position held by funds, a trader said.
* New-crop November canola RSX8 gave up $1 at $524 per tonne.
* The July-November canola spread traded 4,588 times.
* Chicago Board of Trade July soybeans SN8 slid on trade jitters and technical selling. August Paris Matif rapeseed futures /COMQ8 and Malaysian August crude palm oil 1FCPOQ8 dipped.
* The Canadian dollar CAD= was trading at $1.2960 to the U.S. dollar, or 77.16 U.S. cents at 1:29 p.m. CDT (1829 GMT).