Canadian canola futures rise

WINNIPEG: ICE Canadian canola futures mostly rose on Thursday, continuing their recent march higher on weather concerns in Western Canada.

A patchwork of unfavorable weather conditions, from worries about drought in some areas to excessive rain in others, has raised concern about damage to crop development, a trader said.

Farmers are also seen as holding onto stockpiles as they focus on field work, adding price support to the market.

Most-active November canola gained $1 to $475.90 per tonne. July-November canola spread traded 3,253 times. More rain is needed in some areas of the Canadian province of Saskatchewan, the provincial government said.