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WINNIPEG, (Manitoba),: ICE canola futures rose on Wednesday, rebounding after a 7-day skid as a wave of long liquidation dried up.
Despite canola’s gains, the March and May contracts have limited upside after price appreciation in recent months, a broker said.
March canola gained $36.70, or 3.8%, to $1,000.70 per tonne.
March-May canola spread traded 4,085 times.
U.S. soybean futures rose, as investors shrugged off recent beneficial rains in key growing areas of South America.