Canadian canola futures rose to a five-week high on Friday, notching their sixth straight gain and their biggest weekly increase in more than two months on weather concerns about South American soyabeans. Total volume was about 11,100 contracts, less than half of last year's total of 27,386 on the same date ahead of the holiday weekend.
January canola futures gained $4.20 or 0.8 percent at $521.20 per tonne on volume of 2,830 contracts. Gained 2.9 percent for the week. Most-active March added $1.50 to $517.10 a tonne on volume of 5,448 contracts. January-March spread traded 2,830 times, settling at a January premium of $4.10. Chicago January soyabeans added 3/4 US cent to US $11.63 per bushel. January soyaoil gained 0.51 cent to 50.96 US cents per lb.
MATIF February rapeseed rose 0.6 percent. The Canadian dollar was trading at $1.0196 against the US dollar or 98.08 US cents at 1:11 pm CST (1911 GMT), up from Thursday's North American session close at $1.0211 to the US dollar, or 97.93 US cents. US crude oil futures gained 0.2 percent to US $99.68 per barrel. Canada weekly canola crushings rise 0.3 percent.