Canadian canola rises on soyaoil strength

ICE Canadian canola rose on Friday, lifted by spillover support from higher soyaoil prices, but finished with a loss for the week. Pressure was noted in early trading after Statistics Canada raised its canola production estimate by 1 million tonnes to 14.3 million. Harvest progress also limited gains, a trader said. November canola added $1 to $471.90 per tonne. It lost 0.9 percent for the week. January canola gained 70 cents to $476.90 per tonne. The November-January spread traded 4,564 times. Chicago November soyabeans fell on harvest pressure. Malaysian November palm oil fell and NYSE Liffe Paris November rapeseed eased.



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