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Markets

ICE canola gains for fourth straight day

Published Updated

 WINNIPEG: ICE Canada canola futures rose on Thursday for the fourth straight day on short-covering ahead of a US crops report and euro zone summit dealing with the debt crisis, traders said.

* Total volume of 25,700 contracts was largest in one week.

* January canola futures gained $3.60 to $510.60 per tonne on volume of 13,176 contracts.

* March rose $4.00 to $510.50 a tonne on volume of 9,379 contracts.

* January-March spread traded 7,672 times, settling at a January premium of 10 cents on tight cash supplies.

* Chicago January soybeans gained 1-1/2 US cents to US$11.32-1/2 per bushel. January soyoil eased 0.03 cent to 50.45 US cents per lb.

* MATIF February rapeseed rose 0.6 percent, February palm oil eased 1 percent.

* The Canadian dollar was trading at C$1.0215 against the US dollar or 97.90 US cents at 1:07 p.m. CST (1907 GMT) down from Wednesday's North American close at $1.0103 to the US dollar, or 98.98 US cents.

* US crude oil futures fell 2.1 percent to US$100.39 per barrel.

* Preview-USDA to trim corn stocks, boost soy supplies.

Copyright Reuters, 2011

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