WINNIPEG, (Manitoba): ICE canola futures rose to a two-week high on Wednesday, tracking gains in European rapeseed.
Canola prices were further supported by commercial buying and limited farmer selling of the new Canadian harvest, industry sources said. Nearby November canola added $8.50 to $894.20 per tonne, touching the contract’s highest price since Sept. 14.
November-January canola spread traded 4,908 times.
Euronext November rapeseed futures rallied to a contract high, with the euro’s slide adding to recent support from rising fuel markets and tight supply of the oilseed. US corn, soybeans, wheat moved higher ahead of USDA stocks report.
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