ICE Canadian canola futures weakened on Friday following US soya futures, which were a shade lower on improving weather in Argentina. Index funds expected to roll 3,000 March contracts to May as normal for end of month-trader. Hedge pressure seen light due to slow farmer selling. Total volume a thin 616 contracts early.
March down $2.70 or 0.5 percent at $594.50 on volume of 338 contracts as of 8:15 am CST (1415 GMT). Nearby contract on pace for weekly loss of 1.2 percent. May down 70 cents at $605.20, volume 254. Chicago March soyabeans down 0.2 percent in European trading hours. MATIF May rapeseed and April palm oil firm early.
Canadian dollar was trading at $0.9949 to the US dollar or US $1.0051 at 8:09 am CST (1409 GMT), down from Thursday's finish at $0.9932 to the US dollar, or $1.0068. Nearby NYMEX crude oil futures were up 70 US cents at US $86.34 per barrel. Poll-Spot soya to average US $13.20 end 2011. Exporters sell 110,000 tonnes US soyabeans to China. Brazil soya belt gets brief break from rain. Argentine grains strike delays 20 ships in Rosario ports.
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