WINNIPEG: ICE canola futures rose on Friday for a third straight session, boosted by strength in soybeans that was fueled by renewed optimism about US-China trade talks.
* While trade optimism about the United States and China spilled over to canola markets, Canadian traders say they are concerned that a diplomatic dispute between Canada and China may affect canola sales.
* The nearby March canola contract hit resistance at an intra-day high of $486, around its 50-day moving average.
* March canola gained $1 to $484.20 per tonne.
* March-May canola spread traded 4,212 times.
* Chicago March soybeans gained as Bloomberg reported that China offered to go on a six-year buying spree to ramp up imports from the United States in an effort to cut its trade imbalance.
* February Paris Matif rapeseed futures and Malaysian April palm oil futures rose.
* The Canadian dollar edged higher against its US counterpart on Friday as hopes of a possible end to the US-China trade war boosted stocks and oil prices.
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