ICE canola mostly down

WINNIPEG, (Manitoba): ICE canola futures traded mostly lower on Friday, weighed down by a decline in soyoil prices.

Canola was underpinned by frost this week in Manitoba, although the extent of damage is undetermined, and by a two-week forecast that shows limited rainfall, a broker said.

Most-active November canola lost $2.40 to $714.20 per tonne. Nearby July canola rose in limited trading on short-covering.

November-January canola spread traded 845 times.

Chicago Board of Trade soybean futures eased but ended the week higher, supported by stronger corn markets.

Euronext August rapeseed futures eased and Malaysian August palm oil futures rose. Canola will trade on Monday while US markets are closed for Memorial Day.