ICE Canadian canola futures rose on Wednesday, with planting stalled in some areas of Saskatchewan and Manitoba, traders said. W.Canada rains stall Saskatchewan planting. Farmer selling brought modest commercial hedges-trader Outside markets were a mixed influence, with Chicago soybeans rising on US planting problems and crude oil falling hard on weak US economic data.
July rose $1.40 to $590.90 per tonne on volume of 15,026 contracts. New-crop November gained 50 cents to $594.60 on volume of 12,148. July-November spread traded 8,393 times and settled at a $3.70 premium on November. Chicago July soybeans rose 10-1/4 US cents to US $13.86-1/4 per bushel. July soyoil slipped 0.06 cent to 58.43 US cents per lb.
The Canadian dollar was trading at $0.9743 to the greenback, or US $1.0264 at 1:31 pm CDT (1831 GMT), down from $0.9686 to the US dollar, or US $1.0324, at Tuesday's close. NYMEX crude oil futures settled down 2.4 percent at US $100.29 per barrel. Saskatchewan extends planting deadlines amid wet weather. US soybean planting 51 percent complete.