Canadian canola futures higher

ICE Canadian canola futures closed higher on Friday, rallying on short-covering late in the session as the Canadian dollar softened. Canola was pressured in early moves from farmer selling that emerged a day after the May contract hit a three-week high, traders said. Most-active May canola settled up 30 cents at $465.80 per tonne on volume of 6,981 contracts. For the week, the contract rose $2.40 or 0.5 percent. July canola rose 90 cents at $471.30 per tonne on volume of 2,945 contracts.