ICE Canadian canola futures dipped on Friday, pressured by lackluster export and crusher demand and a build-up of commercial supplies. Cool weather in Western Canada delayed planting modestly and may have led farmers to sell some old-crop supplies, a trader said. The stronger Canadian dollar also weighed.
Most-active July canola lost $5.10 to $446.20 per tonne. May-July canola spread traded 8,274 times. Chicago July soyabeans dropped on ample US and global supplies. Paris Matif August rapeseed futures edged higher and Malaysian July palm oil futures slipped. The Canadian dollar strengthened against its US counterpart on Friday, following data that showed factors driving faster growth in the US economy are likely to be temporary.
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