ICE Canada canola rises to third straight weekly gain

Published 2016-04-01, 02:48 p/m
ICE Canada canola rises to third straight weekly gain

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, April 1 (Reuters) - ICE Canada canola
futures rose on Friday, lifted by technical buying and a slow
pace of farmer selling, registering a third straight weekly
gain.
* Farmers have been selling last year's crop only at the
market's highs, and canola's rally has caused crushers to back
away from buying, a trader said.
* Canada weekly canola crushings fell 6.5 percent. OILS/CA
* Funds covered shorts as the market looked technically
stronger. The May contract surpassed its 100-day moving average.
* May canola RSv1 gained $2.90 at $479.10 per tonne,
climbing for the fifth time in six sessions and notching a
weekly gain of 1.9 percent.
* July canola RSN6 added $3.10 to $485 per tonne.
* May-July canola spread traded 5,135 times.
* Chicago May soybeans SK6 gained on spread trading with
corn.
* Malaysian May palm oil 1FCPOK6 and NYSE Liffe May
rapeseed COMK6 rose.
* The Canadian dollar CAD= was trading at $1.3013 to the
greenback, or 76.85 U.S. cents at 1:13 p.m. CDT (1813 GMT),
weaker than Thursday's close of $1.2987, or 77.00 U.S. cents.

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