ICE Canadian canola futures rose on Friday, following gains in the US soyabean market. Benchmark November canola futures settled up 40 cents at $459.90 per tonne. The contract posted a weekly loss of 0.2%. The contract found technical support at its 10-day moving average.
The November-January canola spread traded 11,981 times, closing at $8.80 January premium. The January-March spread traded 1,834 times. Chicago Board of Trade November soyabeans rose 12-1/2 US cents to US$9.36 a bushel. The Canadian dollar strengthened to a four-week high against its US counterpart on Friday after domestic data showing a much bigger-than-expected jobs gain in September supported bets for the Bank of Canada to keep interest rates on hold this month.
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