WINNIPEG, (Manitoba): ICE canola futures slid on Friday, following soy and palm prices down. Canola has traded sideways for awhile, a broker said, with lower Canadian production due to drought factored in and rationing of demand due to high prices underway.
November canola lost $1.80 to $873.70 per tonne. In the Canadian province of Alberta, 33% of the canola harvest is complete, the provincial government said. November-January canola spread traded 4,327 times. Chicago Board of Trade soybean futures fell, erasing earlier gains from the week as exports remain in question. Euronext November rapeseed futures rose and Malaysian November palm oil futures dipped.