WINNIPEG, Manitoba: ICE Canada old-crop canola futures fell on Friday while new-crop gained on wet weather concerns, as the benchmark contract posted its steepest weekly loss in one month.
* May ended with 3.5 percent weekly decline, weighed down by technical selling and weakness at times in US soybeans.
* New-crop canola ends higher, underpinned by concerns about Western Canada planting delays due to cold, wet weather. Old-crop July to new-crop-November spread traded 1,674 times, with July premium falling to fresh 10-month low of $3.20.
* Environment Canada forecasting snow or rain Friday in parts of southern Manitoba, southern and central Saskatchewan and Alberta.
* Total volume of 15,500 contracts was smallest since Monday.
* May canola settled down $2.00 at $568.30 per tonne, on volume of 7,785 contracts.
* July fell $2.20 at $576.90, volume 4,732. New-crop November up $2.20 to $573.70 on volume 2,487.
* May-July spread traded 3,533 times, with July premium settling at $8.60.
* Chicago May soybeans ended up 3/4 US cent at US$13.31-3/4 per bushel. May soyoil down 0.03 cent to 56.84 US cents per lb.
* The Canadian dollar was trading at $0.9597 to the US dollar or US$1.0419 as of 1:09 p.m. CDT (1809 GMT), little changed from Thursday's close at $0.9598 to the US dollar, or US$1.0419.
* NYMEX crude oil futures settled up 1.4 percent at US$109.66 per barrel.
* Canada weekly canola crushings up 8.1 percent.
* Goldman says underweight commodities for 3-6 months.
* Exporters sell 165,000 tonnes US soybeans to China for 2011/12.
Comments
Comments are closed for this article.