ICE Canadian canola futures jumped 1 percent on Friday, recouping a portion of their steep losses from the previous session on bargain buying and worries that dry conditions could hamper crop development in the Canadian Prairies.
Bear spreading remained a feature, with investors rolling out of front-month May contracts and into July and new-crop November futures.
May canola finished up $6.50 at $447.60 per tonne, July up $6.70 at $451.00 and November up $7.20 at $443.60. Canola rebounded after tumbling as much as 3 percent on Thursday in a technical and investment fund selloff.
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