Winnipeg canola futures closed higher on Friday, lifted by a weaker loonie and stronger soybean prices.
The commodity had a good week, rising 4.1 percent in the face of trade restrictions with China and continuing problems exporting canola meal to the United States.
January settled at $406.80 per tonne, up $3 on a volume of 10,492 contracts.
March rose $2.70 to close at $413.40 per tonne on a volume of 1,292 contracts.
The Bank of Canada at noon said the Canadian dollar was worth 93.49 cents US, down from 94 cents the day before. The U.S. dollar was worth $1.0696 Cdn.
The Winnipeg January barley contract sparked to life, rising $2.50 to $160 per tonne with 155 trades. March rose $3 to 160.50 per tonne with 21 trades.
Strong exports to China dominated the news in Chicago’s soybean trade with the January contract rising seven cents to $10.46 US per bushel.
Soybeans were up almost six percent on the week.
The Saskatchewan agriculture department said harvest in the province is 97 percent complete, up from 92 the week before. The northeastern part of the province still has about 10 percent of its canola crop to harvest.
The Canadian Oilseeds Processors Association said 76,874 tonne of canola has been crushed in the week to Nov. 18, down two percent from the week before.
To date this crop year, 1.13 million tonnes have been crushed, down from 1.23 million tonnes last year at the same time.
