Canadian canola futures rise

ICE Canadian canola futures rose on Thursday with soyabeans, after setting a fresh contract low earlier, in volatile trade guided by outside markets. Coronavirus fears have pressured oil and equities, spilling negative sentiment onto canola, a trader noted. Even so, canola took strength from a modest soyabean rally. Most-active May canola gained 20 cents to $456.60 per tonne. May canola set a fresh contract low of $454.

May-July canola spread traded 4,844 times. US soyabean futures recovered from earlier losses as soyameal prices firmed on expectations of an increase in Argentine export taxes.