ICE Canada canola rises with soy, crude

WINNIPEG: ICE Canada canola futures rose on Wednesday, following soybeans and crude oil higher.

* Improving Canada crop prospects seen keeping gains more modest than soybeans' advances - trader.

* Alberta crop yields expected to be above average; 69 percent of canola in good/excellent condition.

* November canola futures added $3.60 at $557.60 per tonne on volume of 8,260 contracts.

* January canola gained $3.60 at $566.00 on volume of 1,687 contracts.

* November-January spread traded 1,453 times, settling at a January premium of $8.40.

* Chicago September soybeans settled up 16-3/4 US cents at US$13.56-3/4 per bushel on US weather. September soyoil added 0.65 cent to 55.65 US cents per lb.

* MATIF November rapeseed settled up 0.5 percent.

* The Canadian dollar was trading around $0.9806 to the US dollar, or US$1.0198 as of 1:15 p.m. CDT (1815 GMT), up from Tuesday's close at $0.9821 to the US dollar, or US$1.0182.

* NYMEX crude oil settled up 1.1 percent at US$87.58 per barrel, lifted by industry data released the previous day showing US gasoline stocks fell sharply last week.

* Dry areas of Midwest to see rain by weekend.

Copyright Reuters, 2011