Winnipeg canola futures fell a little farther on Friday but performed better than soybeans with news of new export business.
Talk circulated that Mexico bought 80,000 tonnes.
Overall for the month, March canola fell 7.7 percent.
Canola and other crops are technically weak.
Canola held up better than soybeans, which fell to a 3 1/2 month low on a stronger U.S. dollar and talk that China is switching orders to South America.
March canola fell 90 cents to close at $375.80 per tonne on 9,272 trades.
May fell $1 to $382.50 on 3,243 trades. New crop November fell $1.10 to $394.90 per tonne on 104 trades.
The Canadian dollar at noon Friday was 93.90 US, down slightly from 93.96 cents the previous trading day. The U.S. dollar was worth $1.065 Cdn.
The Winnipeg March barley contract was steady at $148 per tonne with 60 trades. May was steady at $153 on no trades.
March soybeans rose 14.75 cents US to $9.14 per bushel.
Chicago wheat and corn have also fallen to 3 1/2 month lows.
Light crude oil in New York closed at $73.23 per barrel, down 41 cents.
The Canadian Oilseed Processors Association reported that members crushed 86,718 tonnes of canola the week ending Jan. 27, up 7.2 percent over the week before.
That used 78.1 percent of the crush capacity.
Last year in the same week, 81,847 tonnes were crushed.
In the crop year to date, crush lags last year’s pace by five percent.
Agriculture Canada released its first forecast of 2010 seeding, which sees canola area expanding less than one percent to 16.3 million acres. However, production and supply are forecast to decline by four percent because of lower yields.
The forecast expects farmers will seed less durum, barley and flax.
Most commodities fell during the month on the rising U.S. dollar and concerns that world demand might not be as strong as anticipated. Oil was down eight percent and copper fell nine percent in January.
On the other hand, U.S. gross domestic product in the fourth quarter of 2009 grew at its fastest pace in more than six years.
