ReutersReuters

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.

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