ICE canola futures climb

CHICAGO: ICE canola futures climbed on Monday as hot, dry temperatures across the Canadian Prairies continued to damage crops and limit production, traders said.

Canola futures briefly traded limit up $45 per tonne during early trading, fueled by persistent drought conditions.

Trading volumes are light, as few traders are willing to sell in current market conditions, one analyst said.

Most-active November canola gained $45, a 5.3% climb, to $889 per tonne, a new contract high.

Euronext November rapeseed futures rose, while Malaysian September palm oil futures fell.