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WINNIPEG: ICE canola futures rose on Friday, helped by crusher buying and limited commercial hedges.

Canola's gains came even as soyabeans declined, after canola had become relatively cheap compared to its rival oilseed, a trader said.

Most-active January canola gained 80 cents to $533.90 per tonne.

November-January canola spread traded 10,766 times in active volume as investors rolled positions forward ahead of the November contract's expiry next month.

US wheat futures surged to their highest prices in nearly six years as dry weather in key growing regions around the world fueled supply concerns, while corn touched a 14-month high. Euronext November rapeseed futures and Malaysian January palm oil futures edged higher.