ICE canola futures rise

WINNIPEG, (Manitoba): ICE canola futures rose on Monday, ending a three-day slide and shrugging off pressure from weakness in rival oilseeds. Strong demand for canola and tight supplies are propping up prices, with nearby contracts trading at unusual premiums to later-delivery contracts, a trader said.

Most-active January canola gained $3.50 to $977.40 per tonne, reversing earlier losses. January-March canola spread traded 2,016 times. US soybean futures and soyoil both declined ahead of Tuesday's US Department of Agriculture report. Euronext February rapeseed futures dipped and Malaysian January palm oil futures edged higher.