ICE Canadian canola futures rose on Tuesday, boosted by a steady recent climb in European rapeseed prices. Limited farmer selling to the cash market also underpins canola, along with funds holding a large short position, a trader said. November canola gained $1.20 to $451.40 per tonne in thin volume. November-January canola spread traded 1,899 times.
Chicago November soyabeans rose on declining US crop ratings and uncertain yield prospects. Paris Matif November rapeseed futures hit a nearly one-month high and Malaysian October palm oil futures also rose. The Canadian dollar weakened to a two-month low against its US counterpart as investor appetite for risk eased and oil prices decreased.
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