ICE Canadian canola futures fell on Friday due to selling by commercials and funds, traders said, registering their biggest weekly loss in more than six months. Harvest advancing rapidly, with canola harvest in Alberta more than half complete as of September 18. Warm daytime temperatures, dry conditions forecast for Alberta and Saskatchewan this weekend and into next week.
November canola lost $3.50 to $613.90 per tonne on volume of 7,831 contracts, touching a three-week low. Posted weekly loss of 5.8 percent. January canola slipped $3.50 to $617.20 on volume of 1,333 contracts. November-January spread settled at a January premium of $3.30, trading 1,159 times. Chicago Board of Trade November soyabeans ticked up 3 US cents at US $16.21-3/4 per bushel. MATIF November rapeseed lost 0.7 percent. Canadian dollar was trading at $0.9770 against the US dollar or US $1.0235 at 1:57 pm CDT (1857 GMT), down from Thursday's close at $0.9765 to the US dollar, or US $1.0241. Canada weekly canola crushings up 10.8 percent.