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CHICAGO: ICE Canadian canola futures rose 1.8% on Tuesday, buoyed by a rally in the US soyabean market.
Most-active January canola set a new contract high, closing just below its peak of $558.80 a ton.
January canola settled up $9.90 at $558.40 per tonne.
January-March canola spread traded 5,747 times.
Chicago Board of Trade soyabean futures surged 3.2% to fresh four-year highs after the US Department of Agriculture cut its estimate of the US soyabean harvest and raised its demand forecasts more than analysts had expected.
Euronext February rapeseed futures gained 1.9% and Malaysian January palm oil futures were firm.—Reuters