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WINNIPEG, (Manitoba): ICE canola futures rose on Tuesday for a third straight session, lifted by spillover support from higher soy prices due to concerns about hot, dry US weather.
The Canadian Prairies, which also have dry conditions, are in better shape after recent rains, and canola prices lagged soy gains, a broker said.
Most-active November canola gained $2.60 to $774.20 per tonne.
November-January canola spread traded 3,081 times.
US corn and soybean futures rose after a government report showed that the condition of crops was worse than expected as a heatwave hit the US Midwest. Euronext August rapeseed futures edged higher and Malaysian August palm oil futures fell.
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