ICE Canadian canola futures ended higher on Friday, supported by a rally in soybean futures. Benchmark March closed up $2.10 at $443.10 on volume of 10,508 lots. Funds were active buyers of about 2,500 March contracts. Domestic crushers were in the market, while farmer selling was good, traders said. Spreading included 2,707 of the March/May from $7.30 to $8.10.
Canadian Oilseed Processors Association said Friday that for the week ended January 14, canola crush volume totalled 73,987 tonnes, up 6.7 percent from the previous week. A rally in Chicago Board of Trade soybean futures helped pull canola higher on support from dry conditions in South American soybean regions. CBOT March beans ended Friday up 25-1/2 cents at $10.20. The Canadian dollar was trading on Friday afternoon at $1.2484 to the US dollar, or 80.10 US cents, compared with $1.2515, or 79.9 US cents, at Thursday's close.
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