ICE Canadian canola futures closed higher on Friday, taking a lead from US soyabean futures that notched a 2-1/2-month high, traders said. A second straight day of active farmer selling pushed canola futures off their session highs. November canola settled up $3.30 at $499.00 per tonne after reaching $500.50, its highest since September 6. January canola ended up $3.40 at $505.90 per tonne.
The canola harvest in Alberta was 67 percent complete and another 27 percent of the crop had been swathed, leaving 6 percent standing, the province said in a weekly crop progress report. Chicago Board of Trade November soyabeans settled up 8-1/4 US cents at US$10.00-1/4 per bushel on follow-through buying a day after the US Department of Agriculture lowered its estimates of the US 2017 soyabean yield and 2017-18 soy ending stocks. NYSE MATIF November rapeseed fell 0.27 percent and Malaysian December palm oil futures rose 1.40 percent.
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