ICE Canadian canola futures rose on Friday for the sixth time in seven sessions, climbing on strong crusher demand and improving trade prospects for oilseeds. Crush margins have improved due to price gains in US soya products, as trade warms between the US and China, a trader said. Canola's gains have not kept pace with those of soya products that influence the oilseed market, and the crop has further upside, the trader said.
January canola gained $1.40 to $468.30 per tonne. Most-active March canola added 40 cents to $477.50 per tonne. January-March canola spread traded 6,014 times. US soyabean futures crept higher as traders adjusted positions ahead of year-end and on hopes of larger exports to China. Euronext February rapeseed futures eased and Malaysian March palm oil futures rose.
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