ICE canola futures close up for both day and week
WINNIPEG, Manitoba, Aug 22 (Reuters) - ICE canola futures ended up on Friday and rose slightly from where they closed last week, with soyoil's surge pulling up other vegoils.
• November canola RSX5 settled up $3.20 at $666.50 per metric ton. January RSF5 settled up $3.10 at $677.50. Last Friday canola futures closed at $660.50.
• Signs of a big canola crop about to be harvested are seen in many places. Agriculture Canada is predicting above average yields for almost all spring-planted crops.
• Traders continue to discuss canola futures' muted response to China's imposition of 75.8% duties on Canadian canola. Even the day of the announcement futures didn't close limit-down, and they are now $16 higher than the close on the day of the announcement.
• Chicago Board of Trade soyoil futures BOv1 jumped again on Friday as hopes for new Chinese buying of U.S. soybeans, a U.S. biofuels ruling deemed positive for demand, and optimism about the chances for new soyoil sales to Europe sent the nearby contract up 2.69%, following yesterday's 4.7% rise.
• Euronext rapeseed futures COMc1 fell 0.26%.
• Malaysian palm oil futures FCPOc3 rose 1.54% for a slight decline for the week. POI/
• The Canadian dollar CAD= rose on speculation the U.S. Federal Reserve Bank will soon cut interest rates, plus optimism about Canada's outlook following Prime Minister Mark Carney's announcement that his country would drop retaliatory tariffs against the U.S. CAD/
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