ICE Canadian canola futures fell on Friday in thin trade, as lower US soyabeans and crude oil set a weak tone. Lower Canadian dollar underpinned canola. Nearby November canola registered 1.5 percent weekly gain - only the second in eight weeks for a front-month contract. Total volume of about 11,200 contracts was lowest in more than two months.
November canola futures slipped 80 cents to $529.70 on volume of 673 contracts. Most-active January canola fell $4.70 at $530.80 on volume of 5,790 contracts. January-March spread traded 1,348 times, settling at a March premium of $8. Chicago November soyabeans settled down 18 US cents at US $12.17 per bushel. December soyaoil lost 0.34 cent to 51.77 US cents per lb.
MATIF February rapeseed gained 0.2 percent. The Canadian dollar was trading at $0.9941 or US $1.0059 at 1:18 pm CDT (1818 GMT), down from Thursday's North American close at $0.9913 to the US dollar, or $1.0088. US crude oil settled down 0.7 percent at US $93.32 per barrel on scepticism about the EU rescue deal. Canadian canola oil, meal exports hit record highs. Canada weekly canola crushings rise 9.8 percent.
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