WINNIPEG, (Manitoba): ICE canola futures rose on Tuesday, led higher by rival oilseeds. Canola is supported by limited Canadian farmer selling to the cash market and by end users, who are reluctant to sell due to tight supplies, an industry source said.
March canola gained $8.80 to $1,022 per tonne. March-May canola spread traded 4,184 times.
US soybean futures reached a seven-month high on fears that a smaller-than-expected Brazilian harvest will tighten global soy stocks and steer export demand to US supplies. Euronext May rapeseed futures settled higher, amid tight short-term supplies in Europe.
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