WINNIPEG: ICE Canadian canola futures gained ground on Tuesday, lifted by surging soyaoil prices, and approached all-time highs.
Canola’s gains lagged those of soyaoil as some investors took profits, a trader said. “People may be looking at it as overdone,” he said.
Most-active May canola gained $8.20 to $709.20 per tonne.
The nearby March contract rose as high as $741.10, approaching nearby canola’s record high price of $744.50 reached in 2008.—Reuters
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