WINNIPEG: ICE Canadian canola futures rose on Friday, halting a five-day skid on spillover strength in US soya prices.

The canola market otherwise lacks direction with China buying little due to a dispute with Canada, a trader said, adding that canola has declined recently due to selling by funds that follow technical indicators.

Alberta’s canola harvest is lagging behind. The government of the Canadian province said it was 71% complete as of October 29.

January canola gained 80 cents to $458.20 per tonne.

November-January canola spread traded 4,021 times.

Chicago soyabean futures rose amid news of another Chinese purchase of US oilseeds.

Rain and snow has delayed US harvesting and damaged the quality of Canadian crops.

Euronext February rapeseed futures rose and Malaysian January palm oil futures dipped.

The Canadian dollar weakened against its US counterpart on Friday, extending this week’s decline, after data showing stronger-than-expected US jobs growth boosted the greenback.—Reuters