April 25 (Reuters) - ICE Canada canola futures settled lower on Wednesday as a short-covering and technical buying rally fizzled and investors looked ahead to a government plantings report later this week that is expected to show record canola seedings this year.
* May canola RSK8 climbed to a contract high of $541.70 per tonne but settled down 50 cents at $539.00 per tonne. July RSN8 was $1.00 lower at $535.00 and new-crop November RSX8 shed 30 cents to $519.00 a tonne.
* The May/July spread RSK8-N8 traded about 6,000 times between $3.00 and $4.80 over (premium May).
* Statistics Canada is expected to release its report on principal field crop area at 7:30 a.m. CDT (1230 GMT) on Friday. Canola plantings are expected to jump to 23.663 million acres, from 22.997 million in 2017, according to an average of 14 analysts polled by Reuters. Chicago Board of Trade soybean 0#S: futures ended mostly higher on Wednesday. CBOT May soybeans SK8 gained 5-1/4 cents to $10.27-1/2 a bushel. GRA/
* The Canadian dollar CAD= weakened to a three-week low against its U.S. counterpart on Wednesday as oil and stock prices fell. NYSE MATIF May rapeseed COMK8 and Malaysian June crude palm oil 1FCPOM8 were higher.