ICE canola futures rise

WINNIPEG, (Manitoba): ICE canola futures rose on Monday, rallying with vegetable oil rivals.

Strength in prices of US soyoil caused initial canola buying before investors with long canola positions drove prices higher, a trader said.

Buying was especially strong in the July contract, as long investors moved their positions over from the May contract, a broker said.

May canola gained $4.70 to $756.20 per tonne.

May-July canola spread traded 3,026 times.

US soybean futures declined, pressured by outlooks for warm and dry conditions in the Midwest over the next 10 days.

Euronext May rapeseed futures and Malaysian June palm oil futures climbed.