The paper addresses the fluid-structure interaction of submerged aquatic canopies, with particular focus on the complex interplay between coherent flow structures and the motion of vegetation elements. New insights into the underlying mechanisms are gained from a large eddy simulation of a submerged model canopy flow. The model canopy is made up of 800 highly flexible blades, each individually resolved by an immersed boundary method. The obtained high-resolution flow data reveal well-known coherent turbulent structures, including velocity streaks, Kelvin-Helmholtz (KH) vortices in the mixing layer as well as hairpin (HP) vortices in the outer flow region. The present results show that the interaction of these prototypical structures plays a key role creating unique turbulent features such as composite KH/HP vortices located between a high-speed and low-speed streak. Under the influence of these pronounced eddies, groups of blades respond by a strong local reconfiguration. Due to the convection of the coherent structures by the mean flow this causes an apparent wave-like motion of the canopy in streamwise direction, known as monami. A frequency analysis of this phenomenon shows that the vegetation responds almost passively, merely reflecting local flow conditions.