ICE Canadian canola futures rose on Wednesday to their biggest daily percentage gain in nearly two weeks on support from wet Canada planting conditions and strong US markets, traders said. Crushers and exporters were strong buyers, helped by weaker Canadian dollar-trader.
Parts of southern Manitoba received significant rain on Wednesday as farmers aimed to make up planting delays. US corn futures climbed 3.7 percent ahead of Thursday's US crop report, pulling up soyabeans and canola. Stronger MATIF rapeseed futures also supported canola.
July gained $5.20 or 0.9 percent to $592.40 per tonne on volume of 10,579 contracts. New-crop November rose $4.70 to $595.40 on volume of 8,304. July-November spread traded 4,915 times and settled at a $3 premium on November. Chicago July soyabeans rose 7-1/2 US cents to US $14.01-1/2 per bushel. July soyaoil gained 0.01 cent to 57.94 US cents per lb.
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