ICE Canadian canola futures climbed on Wednesday, bouncing off a 2-1/2-month low on spillover support from US soybeans and soyoil. March canola added $3.50 at $503.60 per tonne dipped earlier as low as $497.10, the lowest most active price since mid-October. A March settlement under $500, around the 100-day moving average, could cause technical selling, a broker said.
March-May canola traded 1,136 times. ICE reported delivery of 152 January contracts. Contract expires January 13. Chicago March soybeans rose on bargain buying. NYSE Liffe February rapeseed gained and Malaysian March crude palm oil dipped. The Canadian dollar traded at $1.3306 to the US dollar, or 75.15 US cents, at 1:10 pm CST (1910 GMT), higher than Tuesday's close of $1.3433, or 74.44 US cents.
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