ICE canola futures rise on worries about dry Canadian crops

WINNIPEG: ICE canola futures mostly rose on Thursday, lifted by worries about dry Canadian soils.

* Saskatchewan's cropland moisture levels continued to decline in the past week despite significant rain for some areas, the Canadian provincial government said.

* July canola shed $1 to $456.50 per tonne. The near month is under pressure because of large old-crop supplies.

* Most-active November canola gained $2.90 to $471.80 per tonne, reflecting weather-related concerns for the next harvest.

* July-November canola spread traded a brisk 15,080 times. Some traders are trading the spread on weather worries, while others are rolling July positions forward, traders said.

* Ottawa increased the insurance coverage available for canola exporters on Thursday, as it seeks to reduce trade risks amid a dispute with China.

* Chicago July soybeans climbed on US planting delays.

* Paris Matif August rapeseed futures and Malaysian August palm oil futures rose.

* The Canadian dollar strengthened against its US counterpart, after a three-day run of declines as oil prices rallied and domestic household indebtedness edged lower.