ICE Canadian canola futures eased on Friday as funds liquidated their long positions in thin trading, and canola posted a weekly loss, traders said. Scant volumes due to lack of commercial hedges, with Saskatchewan harvest just getting underway, and a pause in export sales - trader. Weaker Canadian dollar and stronger soyabean futures underpinned canola.
Statistics Canada to give first 2012/13 forecasts for yields and production on Wednesday. November canola lost $2.70 to $608.10 per tonne on volume of 3,657 contracts. November registered a weekly loss of 1.5 percent. Chicago Board of Trade November soyabeans gained 20-1/2 US cents at US $16.45-3/4 per bushel. Midday update shows dryness returning to US crops.
MATIF November rapeseed added 0.1 percent, while Malaysian October palm oil gained 0.6 percent. Canadian dollar was trading at $0.9891 against the US dollar or US $1.0110 at 2:51 pm CDT (1951 GMT), from Thursday's close at $0.9867 versus the US dollar, or US $1.0135.
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