WINNIPEG, (Manitoba): ICE canola futures rose on Wednesday, following soybeans on concerns about drought-stressed South American soy crops.
Canola lacks independent strength, facing intermittent pressure as exporters price sales, a trader said.
March canola gained $3.80 to $1,026.60 per tonne.
March-May canola spread traded 4,122 times. US soybean futures set eight-month highs on concerns about the risk for more unfavorable crop weather in key growing areas of South America.
US soybean supplies will be smaller than previously forecast as demand from the crushing industry rose, the government said. climbed.
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