WINNIPEG: ICE Canada canola futures jumped to a more than seven-week high on Monday on worries about dry weather in Argentina's soybean-growing areas.
* Canola broke resistance around $532.20 on the March contract, attracting fund technical buying - traders.
* Most-active March canola futures gained $9.90 or 1.9 percent to $533.30 a tonne on volume of 14,031 contracts. Touched $534, the highest price for the contract since Nov. 17.
* May added $10.10 to $538.90 on volume of 3,157 contracts.
* March-May spread traded 2,261 times, settling at a May premium of $5.60.
* Chicago March soybeans gained 36-1/2 US cents or 3.1 percent to US$12.33 per bushel on hotter than expected South America weather. March soyoil added 1.21 cent to 52.33 US cents per lb.
* MATIF February rapeseed gained 1.1 percent.
* The Canadian dollar was trading at $1.0239 against the US dollar or 97.67 US cents at 2:24 p.m. CST (2024 GMT), up from Friday's North American finish at $1.0270 to the US dollar, or 97.37 US cents.
* US crude oil futures was down 0.3 percent to US$101.30 per barrel.
* Argentine grains to get rain, but will it be enough?
* Variable rains headed for dry Brazil grain areas.
* Exporters sell 145,000 tonnes US soybeans to unknown for 2011/12.
* Preview - S.America soy crop seen shrinking.
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