ICE Canadian canola futures rose on Friday, on concerns about dry Western Canada conditions and with support from higher US soya prices. Limited farmer selling and talk of Chinese export demand added support, a trader said. Statistics Canada will estimate Canadian plantings next Friday. Trade estimates canola area of 22.4 million acres, higher than Statscan's spring forecast.
July canola gained $2.40 at $527.40 per tonne.
Most-active November canola added $1.50 at $513.40 per tonne. The July-November canola spread traded 5,453 times. Chicago Board of Trade July soyabeans rose on short-covering ahead of the weekend. August Paris Matif rapeseed futures eased and Malaysian August crude palm oil rose. The Canadian dollar was trading at $1.3284 to the US dollar, or 75.28 US cents at 1:02 p.m. CDT (1802 GMT).
Comments
Comments are closed for this article.