ICE canola rises on weather, posts 4pc weekly gain

WINNIPEG: ICE Canada canola futures rose due to planting concerns on Friday to top up a 4 percent weekly gain, the biggest in five months for the nearby contract.

* Turn to wetter weather on eastern Canadian Prairies added to planting concerns.

* Options trading busy as traders guard against uncertain weather. In July, 500 $590 calls and 872 $620 calls traded. In November, 505 $550 puts and 300 $590 calls traded.

* Trade was choppy with ICE Canada closed on Monday for Canadian holiday.

* July rose $2.60 to $577.10 on volume of 9,332 contracts. Fifth straight gain, longest streak for nearby contract in two months.

* New-crop November up $2.90 at $583.30 on volume of 4,932.

* July-November spread traded 3,294 times, settling at $6.20 carrying charge.

* Chicago July soybeans ended up 3/4 US cent at US$13.80-1/4 per bushel. July soyoil unchanged at 57.46 US cents per lb.

* The Canadian dollar was trading at $0.9710 to the US dollar or US$1.0299 as of 1:12 p.m. CDT (1812 GMT), down from Thursday's close at $0.9682 to the US dollar, or US$1.0328.

* NYMEX crude oil futures settled up 1.1 percent at US$99.49 per barrel.

* Canada crushers process record 4.8 million tonnes.

* Manitoba to close break in dike.