It was a positive day across the boards in North American crop futures, but canola lagged most in uninspiring trade.
With few of its own fundamentals changing, canola played piggyback.
“There was nothing special going on,” said P.I. Financial broker Ken Ball.
“Soy markets were firm, and canola was able to tag along.”
Soybean oil rose 1.22 percent and soybeans rose 0.69 percent still riding hearty export sales announced Thursday.
Canola tends to follow soybean oil prices more closely than soybeans because its price is based mostly on its oil content.
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Still March canola rose 0.91 percent on the day and reached its highest levsince July 2014.
There was talk of new export sales to China and Pakistan.
Wheat prices rose the most of the crops, with Minneapolis spring wheat up more than two percent.
The Chicago and Minneapolis wheat markets are in an inverse, with March stronger than May.
Traders are already hedging bets and anticipating the coming U.S. Department of Agriculture annual outlook conference late this month.
Over the week, March canola rose $7.80 to $467.40 ad May climbed $7.10 to$463.10.
The Canadian Oilseed Processors Association said members crushed 136,218 tonnes of canola in the week ending Feb. 11, down six percent from the week before.
That represented a capacity use of 74.5 percent, down from the crop average to date of 81.5 percent.
Crop futures markets in Canada and the U.S. will be closed on Monday.
Oil rose Friday, taking stocks higher. The S&P 500 hit a record high.
ConAgra weighed on stock index, though, with a poor outlook due to a higher dollar.
Light crude oil nearby futures in New York were up $1.57 to US$52.78 per barrel.
The Canadian dollar at noon was US80.33 cents, up from US80.24 cents the previous trading day. The U.S. dollar at noon was C$1.2449.
The Dow Jones industrial average rose 46.97 points, or 0.26 percent, to close at 18,019.35, the S&P 500 gained 8.51 points, or 0.41 percent, to 2,096.99, a record high. The Nasdaq Composite added 36.22 points, or 0.75 percent, to 4,893.84.
Stronger oil prices, a ceasefire agreement between Ukraine and Russia and apparent progress toward a deal on Greek debt helped raise stock prices during the week.
For the week, the TSX composite rose 1.2 percent, the Dow rose 1.1 percent, the S&P 500 gained two percent to a record high and the Nasdaq added 3.2 percent.
Winnipeg ICE Futures Canada dollars per tonne
Canola Mar 2015 467.40 +4.20 +0.91%
Canola May 2015 463.10 +3.50 +0.76%
Canola Jul 2015 458.80 +2.90 +0.64%
Canola Nov 2015 448.40 +2.60 +0.58%
Canola Jan 2016 451.30 +2.80 +0.62%
Milling Wheat Mar 2015 227.00 +3.00 +1.34%
Milling Wheat May 2015 236.00 +3.00 +1.29%
Milling Wheat Jul 2015 238.00 +3.00 +1.28%
Durum Wheat Mar 2015 333.00 unch 0.00%
Durum Wheat May 2015 323.00 unch 0.00%
Durum Wheat Jul 2015 313.00 unch 0.00%
Barley Mar 2015 195.00 unch 0.00%
Barley May 2015 197.00 unch 0.00%
Barley Jul 2015 199.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Mar 2015 990.5 +6.75 +0.69%
Soybeans May 2015 994.75 +8 +0.81%
Soybeans Jul 2015 1000 +8.5 +0.86%
Soybeans Aug 2015 999.25 +8.5 +0.86%
Soybeans Sep 2015 983 +7.75 +0.79%
Soybeans Nov 2015 971 +6.75 +0.70%
Soybean Meal Mar 2015 332.3 +1.8 +0.54%
Soybean Meal May 2015 326 +2.3 +0.71%
Soybean Meal Jul 2015 323.6 +2.2 +0.68%
Soybean Oil Mar 2015 32.4 +0.39 +1.22%
Soybean Oil May 2015 32.59 +0.39 +1.21%
Soybean Oil Jul 2015 32.76 +0.38 +1.17%
Corn Mar 2015 387.25 +4.25 +1.11%
Corn May 2015 395.25 +4.25 +1.09%
Corn Sep 2015 409.25 +4.75 +1.17%
Corn Dec 2015 417.5 +4.5 +1.09%
Oats Mar 2015 278.5 +5.25 +1.92%
Oats May 2015 278 +4.75 +1.74%
Oats Jul 2015 279.25 +3.25 +1.18%
Oats Sep 2015 284 +3.25 +1.16%
Oats Dec 2015 287.25 +4.5 +1.59%
Wheat Mar 2015 533 +11.75 +2.25%
Wheat May 2015 529.25 +9.5 +1.83%
Wheat Jul 2015 532.25 +9.75 +1.87%
Wheat Sep 2015 539.75 +10 +1.89%
Wheat Dec 2015 552.5 +9.25 +1.70%
Minneapolis
Spring Wheat Mar 2015 587 +12.75 +2.22%
Spring Wheat May 2015 585 +10 +1.74%
Spring Wheat Jul 2015 587 +8.5 +1.47%
Spring Wheat Sep 2015 593.25 +8.25 +1.41%
Spring Wheat Dec 2015 603.25 +8.75 +1.47%
Kansas City
Hard Red Wheat Mar 2015 562.75 +8.75 +1.58%
Hard Red Wheat May 2015 563.75 +8.75 +1.58%
Hard Red Wheat Jul 2015 568.5 +9.25 +1.65%
Hard Red Wheat Sep 2015 579 +9.5 +1.67%
Hard Red Wheat Dec 2015 592.5 +9.25 +1.59%
