WINNIPEG: ICE canola futures rose on Wednesday, halting a two-day skid, on spillover strength from soy futures.
Canola's gains lagged those of the US soy complex, which was unexpected given that Canadian farm selling has slowed, a broker said.
January canola gained $3.90 to $587.80 per tonne.
January-March canola spread traded 11,346 times. Investors have begun rolling January positions forward.
US soybean and grain futures firmed in a short-covering rebound and as investors took positions ahead of a monthly US Department of Agriculture (USDA) supply and demand report on Thursday.
Euronext February rapeseed futures rose and Malaysian February palm oil futures eased.
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