Canadian canola futures fall

ICE Canadian canola futures fell on Friday to a two-month low, registering a weekly loss, under pressure from a stronger Canadian dollar and commercial hedging. A pickup in farmer selling to the cash market was noted, a trader said. For the month, most-active March canola lost 2.3 percent. March canola shed $2.50 at $475.40 per tonne, touching its lowest price since November 30. Lost 1.3 percent for the week. May canola gave up $2.30 at $485 per tonne.
March-May canola spread traded a busy 9,204 times. Chicago March soybeans rose on short-covering, bargain-buying. Malaysian April palm oil fell and NYSE Liffe Paris May rapeseed edged higher. The Canadian dollar was trading at $1.4023 to the greenback, or 71.31 US cents at 1:08 pm CST (1908 GMT), higher than the Bank of Canada's official close of $1.4048, or 71.18 US cents.