ICE Canadian canola futures slipped on Friday to a slim weekly loss, pressured by late selling on thin trading volumes. Weakness in US soybeans and crude oil weighed on canola, negating support from a softer Canadian dollar. Total volume was a thin 8,143 contracts, after bankruptcy of MF Global earlier left some local speculators without a clearing firm.
Most-active January canola futures lost 80 cents at $530.50 on volume of 5,538 contracts. Ends week down 0.1 percent. March gave up $1.10 to $537.00 on volume 830. 27 November contracts delivered on Friday. January-March spread traded 535 times, settling at a March premium of $6.50. Chicago January soybeans lost 6-3/4 US cents to US $12.12-1/2 per bushel. December soyoil shed 0.16 cent to 51.87 US cents per lb.
MATIF February rapeseed gained 0.8 percent. The Canadian dollar was trading at $1.0171 or 98.32 US cents at 1:15 pm CDT (1815 GMT), down from Thursday's North American session close at $1.0081 to the US dollar, or 99.20 US cents. US crude oil gained 0.2 percent at US $94.26 per barrel. Canada weekly canola crushings rise 11.9 percent.