ICE Canadian canola futures ended weekly trading mixed on Friday, boosted by near-term demand but weighed down by concerns about future Chinese buying. The Canadian court ruling this week that could permit the extradition of a senior Huawei Technologies Co Ltd executive to the United States may leave Canada vulnerable to further retaliation from Beijing.
The canola market is underpinned by limited selling by Canadian farmers, who are busy planting the new crop, a trader said. July canola gained 40 cents at $461.10 per tonne.
New-crop November canola, which was more actively traded, eased 30 cents to $470. Canola seeding in the Canadian province of Alberta was 74% complete as of Tuesday. July-November canola spread traded 3,034 times, representing relatively thin spread volume.
US soyabean futures slid as percolating US-China trade tensions over Beijing's proposed restrictions on Hong Kong put a damper on the markets.
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