ICE Canadian canola futures closed modestly higher on Friday on light crusher buying, traders said, but the benchmark November contract posted a slight weekly decline, reflecting pressure from the ongoing Canadian harvest. Canola yields in Manitoba have been better than expected, traders said. November canola rose 50 cents to settle on Friday at $489.10 per tonne. For the week, the contract fell 60 cents or about 0.1 percent. January canola ended up 70 cents at $495.70 per tonne.

Alberta's canola harvest was 28 percent complete as of Tuesday, compared with the five-year average of 31.6 percent, the provincial government said in a weekly report released Friday. Chicago Board of Trade November soybeans settled down 7-1/4 US cents at US$9.68-3/4 per bushel on profit-taking a day after setting a one-month high. NYSE MATIF November rapeseed fell 0.20 percent and Malaysian November palm oil fell 0.21 percent.

Copyright Reuters, 2017