ICE Canadian canola rose on Tuesday to a four-month high for the nearby contract, boosted by technical buying and crusher purchases. Crushers may have been restocking after processing less canola during the previous week, a trader said. Canola traded in thin volume during the first session of the holiday-shortened week. The market had been closed since December 24. January canola gained $3.30 at $483.60 per tonne, climbing for a third straight session.
Most-active March canola added $4 at $492.80 per tonne. January-March spread traded 4,550 times. Chicago March soybeans rose on bargain buying. Malaysian March crude palm oil and NYSE Liffe Paris February rapeseed gained. The Canadian dollar was trading at $1.3833, or 72.29 US cents, at 12:53 pm CST (1853 GMT), higher than Monday's close at $1.3904, or 71.92 US cents.
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