ICE Canadian canola futures eased on Friday in thin trading volume and posted a small weekly loss. Canola was pressured by weakness in Chicago soybeans, which dipped on expectations for favorable weather across the US Midwest. Western Canada farmers are making brisk planting progress. Alberta farmers had seeded 35 percent of their canola acres as of May 12, while some are waiting for moisture to improve. July canola lost 90 cents to $455.30 per tonne, down 0.6 percent for the week.
The new-crop November canola shed $1 to $449.20 per tonne. July-November spread traded 2,843 times. Malaysian July palm oil and NYSE Liffe Paris August rapeseed both dipped. The Canadian dollar was trading at $1.2027, or 83.15 US cents, at 1:18 pm CDT (1818 GMT), down from the Bank of Canada's official close of $1.1999, or 83.34 US cents, on Thursday.