ICE Canadian canola futures rose off the lowest price since late December on Wednesday to end the longest losing streak in nearly six months, as funds and crushers stepped up buying, traders said. Front-month March canola gained 0.3 percent, after losing 7 percent during the four-day losing streak that started on Thursday.
Market open interest was relatively high at more than 211,000 contracts as of Monday, but pulled back amid selloff from Friday's record high open interest. March ended up $1.60 at $575 on volume of 11,030 contracts. Dipped as low as $565.80, lowest front-month contract price since December 20.