WINNIPEG: ICE Canada canola futures rose 1.1 percent to hit their highest level in nearly five months on Wednesday due to buying from investment funds and crushers, traders said.
* Traders also noted firm cash markets amid concerns about dry soil conditions limiting the size of this year's Canadian canola crop.
* March canola futures peaked at $548.50, the highest price for a nearby contract on a continuous chart since Sept. 22.
* March canola gained $5.90 at $547.80 a tonne on volume of 7,188 contracts.
* May rose $5.80 to $551.60 on volume of 13,169 contracts.
* March-May spread traded 5,580 times, settling at a May premium of $3.80. Inter-month spreading also active between May and July, trading 1,194 times to settle at a July premium of $2.80.
* Chicago March soybeans gained 6 US cents to US$12.61 per bushel. March soyoil rose 0.33 cent to 53.35 US cents per lb.
* MATIF May rapeseed gained 0.5 percent.
* The Canadian dollar was trading at $0.9989 against the US dollar, or 99.99 US cents, at 2:05 p.m. CST (2005 GMT), down slightly from Tuesday's close at $0.9995 versus the greenback, or US$1.0005.
* US light crude oil rose 1 percent at $101.80 per barrel.
* US Agriculture Department confirmed sales of 116,000 tonnes of US soybeans to China for delivery in 2011/12. Traders expecting announcement of US soy purchase agreements during Chinese trade delegation visit to Iowa on Wednesday.
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