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Markets

ICE canola falls to 3 pct weekly loss

Published Updated

CanolaWINNIPEG: ICE Canada canola futures fell for the fifth straight session on Friday, giving up earlier gains and ending with their biggest weekly loss in four weeks.

* Stronger Canadian dollar and weaker Chicago soybeans spilled pressure over to canola.

* November canola options expired on Friday, with about 200 puts exercised.

* November canola futures lost $2.40 to $522.10 per tonne on volume of 10,611 contracts.

* November finished with 3 percent weekly loss.

* January canola shed $3.00 at $531.00 on volume of 10,647 contracts.

* November-January spread traded 7,510 times, settling at a January premium of $8.90, as investors rolled positions forward ahead of November delivery.

* Chicago November soybeans lost 12-3/4 US cents to US$12.12-1/4 per bushel on liquidation ahead of the EU debt summit. December soyoil gave up 0.14 cent to 51.25 US cents per lb.

* MATIF November rapeseed rose 0.8 percent.

* The Canadian dollar was trading at $1.0100, or 99.01 US cents, at 1:23 p.m. CDT (1823 GMT), up from Thursday's North American session close at $1.0150, or 98.52 U.S cents.

* US crude oil settled up 1.6 percent at US$87.40 per barrel.

* Wheat Board can thrive in open market - Viterra CEO.

Copyright Reuters, 2011

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