ICE canola futures climb for third day, bucking lower oilseed trend
ICE canola futures climbed on Friday for a third straight day, bucking a lower trend for its oilseed rivals.
* Technical-minded funds have backed away from selling canola, with other speculators covering short positions, a trader said.
* Pressure from Canadian farmers delivering canola to commercial buyers is seen to have abated.
* March canola (RSH3) added $1.60 to settle at $807.70 per tonne.
* March-May canola spread, the most active inter-month spread, traded 4,614 times.
* U.S. soybean futures ZS1! weakened on expectations that recent rains in Argentina boosted crop potential from the key South American exporter.
* Euronext May rapeseed futures (/COMK3) also dipped.
* South Korean feedmaker Nonghyup Feed Inc bought about 40,000 tonnes of rapeseed meal animal feed to be sourced from India in an international tender which closed on Thursday.