Canadian canola futures firm

ICE Canadian canola futures firmed on Friday, finding technical support after breaking a five-session winning streak on Thursday. The benchmark January contract turned higher after briefly dipping below its 20-day moving average. The contract then rose above its 10-day, 30-day, 40-day and 50-day moving averages.

The ongoing strike at Canada's biggest railroad, Canadian National Railway Co, was bearish for the cash market but provided light support to futures prices by removing pressure from commercial hedgers, a trader said.

January canola gained $1.10 to $464.30 per tonne. The contract rose 0.4 percent this week. January-March canola spread traded 2,027 times, with the January contract gaining 10 cents on the March.