Canadian canola futures climb

ICE Canadian canola futures climbed on Thursday, lifted by a slower pace of farmer selling due to the crop falling steadily in the past several months to low prices. Short-covering also boosted canola, which rose despite gains in the Canadian dollar, a trader said. Most-active March canola rose $4.30 to $498.90, climbing for the fourth straight session.
ICE Futures Canada said there were 27 deliveries of the January contract on Thursday. March-May canola spread traded 3,647 times. Chicago March soyabean futures eased on a mild round of profit-taking. NYSE MATIF February rapeseed edged higher and Malaysian March crude palm oil dipped. The Canadian dollar was trading at $1.2493 to the US dollar, or 80.04 US cents at 2:16 pm CST (2016 GMT).