WINNIPEG, (Manitoba): ICE canola futures rose on Monday, reversing earlier losses in light, volatile trading.

Trading volumes were thin with US markets closed for a holiday.

Hot dry, weather forecast for the Canadian Prairies this week, threatening crop development, underpinned prices, a broker said.

Most-active November canola rose $1 to $715.20 per tonne.

November-January canola spread traded 214 times.

Euronext August rapeseed futures and Malaysian August palm oil futures dipped.

Consultancy Strategie Grains kept its forecast for the 2021 rapeseed harvest in the 27-nation European Union almost unchanged at 16.82 million tonnes against the 16.78 million projected a month ago.