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ICE Canada canola rises, but finishes with big weekly loss

Published 2016-01-08, 02:37 p/m
ICE Canada canola rises, but finishes with big weekly loss

(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, Jan 8 (Reuters) - ICE Canada canola
futures rose on Friday, lifted by strength in U.S. grains, but
finished with their biggest weekly loss in seven weeks.
* Investors covered short positions in U.S. crops ahead of
Tuesday's U.S. Department of Agriculture report, and the
strength spilled over to canola, a trader said.
* The market shrugged off a report that the U.S. Food and
Drug Administration blocked a Canadian canola meal shipment from
a Bunge Ltd plant in Hamilton, Ontario.
* Most-active March canola RSH6 rose $3.30 at $481.30 per
tonne. It lost 1.1 percent for the week.
* ICE reported no January canola RSF6 deliveries. The
contract expires Jan. 14.
* March-May canola spread traded 2,025 times.
* Chicago March soybeans SH6 last traded slightly lower in
position-squaring ahead of the USDA report.
* Malaysian March crude palm oil 1FCPOH6 rose and NYSE
Liffe Paris February rapeseed COMG6 slipped.
* The Canadian dollar CAD= was trading at $1.4129, or
70.78 U.S. cents, at 1:09 p.m. CST (1909 GMT), down from the
Bank of Canada's official close of $1.4097, or 70.94 U.S. cents.
* Canada weekly canola crushings fell 5.5 percent. OILS/CA
* Drought, warm winters seen hitting India rapeseed output.

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