ICE Canadian canola futures rose in heavy volume trading on Friday, with traders noting fund buying after contracts broke through key resistance points. The benchmark November canola futures contract closed $2.70 higher at $449.80 per tonne. The contract rallied through its 30-day, 40-day and 50-day moving averages during the session before running into resistance at its 100-day moving average. Front-month canola futures peaked at $453.90 a tonne, hitting a three-week high on a continuous basis.

Copyright Reuters, 2019