ICE canola futures rise for second day on spreads, weak dollar

WINNIPEG: ICE canola futures rose on Tuesday for a second straight session, lifted by spread trades against soy and weakness in the Canadian dollar.

* Traders said spreads that bought canola and sold soy boosted canola prices. One trader said nervousness about dry conditions in pockets of the Canadian Prairies also supported the market.

* November canola gained $3.20 to $448 per tonne.

* November-January canola spread traded 1,016 times.

* Chicago August soybeans eased on better than expected rains in the Midwest and fears of a prolonged US-China trade war.

* Paris Matif November rapeseed futures and Malaysian October palm oil futures edged higher.

* The Canadian dollar weakened to a nearly seven-week low.

* The ongoing French rapeseed harvest is seen reaching 3.6-3.8 million tonnes, 26%-32% below the five-year average, due to adverse weather and pest damage, oilseed crop institute Terres Inovia said on Monday.