WINNIPEG, (Manitoba): ICE canola futures rose to contract highs on Monday on concerns about hot, dry Canadian weather stunting the crop’s growth.
Trading was more volatile than usual, with flurries of profit-taking dragging canola well off its intraday highs, a trader said.
Most-active November canola gained $8 to $771.60 per tonne. Its intraday high of $784.40 set a contract high.
November-January canola spread traded 3,638 times.
US old-crop soybean futures fell on profit-taking, while contracts for later delivery were supported by an outlook for hot, dry Midwest weather.
Euronext August rapeseed futures finished higher.
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