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ICE Canadian canola futures rose on Friday amid concerns about late planting, and registered a second straight weekly gain. Funds seen building long position in July on concerns about adverse spring weather hampering planting, since new-crop November contract lacks liquidity - trader.
Statistics Canada will issue its first estimates of planting intentions on Wednesday. Trade expects sowings of 20.3 million acres of canola, down 6 percent from 2012. May canola rose $5.10 to $640 per tonne on volume of 9,209 contracts. Nearby contract notched a 2.3 percent weekly gain. July gained $3.80 to $624.40 on volume of 14,004.

Copyright Reuters, 2013

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