OTTAWA: ICE Canadian canola futures rose on Tuesday. There's nervousness in the July-Nov spread, a trader said, suggesting the cash market is tighter than expected. July canola gained $2.80 to $467.70 per tonne. Most actively traded new-crop November canola gained $1.20 to $471.50 per tonne. July-November canola spread traded 4,947 times. The Canadian dollar weakened against its US counterpart on Tuesday, giving back some of its recent gains as oil prices fell and the rally in stocks lost momentum.
US wheat, corn and soyabean futures fell, giving back some gains from recent rallies as the US Department of Agriculture gave an assessment of crop conditions that analysts viewed as favorable.
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