WINNIPEG, (Manitoba): ICE canola futures mostly rose on Tuesday on short covering in a session featuring mixed trading. Strength for the nearby January contract was due to tight Canadian canola supplies, while later months were under pressure from reduced demand from crushers, a trader said. January canola gained $2.90 at $1,024.70 per tonne. Some deferred months declined. January-March canola spread traded 3,651 times. US soybean futures eased as traders squared positions ahead of this week’s US Thanksgiving holiday.
Euronext February rapeseed futures and Malaysian February palm oil futures declined, with palm pressured by a forecast for stronger vegetable oil production next year.
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