WINNIPEG, (Manitoba): ICE canola futures ended mixed on Friday, with nearby contracts boosted by speculative and technical buying amid thin supplies of the oilseed. Crushing margins remain poor, but a lack of farmer sales of their canola crop has kept a firm floor under prices.
Most-active January canola added $4.50 to settle at $959.80 per tonne. The contract ended the last trading day of October up 3.7% for the week and 9.1% in the month.
Spot November futures surged $61.10 to $1,058.00 in very thin volume trading ahead of contract expiration on Nov. 12. The contract notched a fresh life-of-contract high and the loftiest level on record for a front-month contract. Distant month contracts closed mostly lower, anchored by profit taking ahead of the weekend.