WINNIPEG: ICE Canada canola futures were mixed on Thursday, with old-crop contracts following US soybeans higher due to tight supplies while new-crop months sagged on expectations of a large crop, traders said.
* Prices for the front-month contract hit their highest level on a continuous basis since July 2008.
* Cold weather delayed early planting but a trader said farmers would be ready to go as soon as soil temperatures warmed.
* CBOT soybeans rallied due to big export sales to top buyer China and waning crop prospects in South America.
* May canola gained $6.20, or 1 percent, to $645.00 per tonne on volume of 2,687 contracts. Hit contract high of $645.90, the highest price for a nearby contract since July 2008.
* July canola rose $1.60 to $631.60 per tonne on volume of 9,306 contracts.
* New-crop November, which is the month with the biggest open interest, fell $4.40 to $577.70 per tonne on 10,536 contracts.
* May-July spread traded 2,426 times, settling at a May premium of $13.40. July-November spread widened to a July premium of $53.90, trading 3,962 times.
* Chicago May soybeans climbed 7-3/4 US cents, or 0.5 percent, to US$14.81-1/4 per bushel. May soyoil dropped 0.28 cent to 55.37 US cents per lb.
* MATIF August rapeseed lost 1.5 percent.
* The Canadian dollar was trading at 0.9833 against the US dollar or US$1.0170 at 1:15 p.m. CDT (1815 GMT), little changed its Wednesday finish at $0.9835 against the US dollar, or US$1.0168.
* US light crude oil rose 0.5 percent to $104.60 per barrel.
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