CHICAGO: ICE canola futures firmed on Thursday, after dropping a day earlier, though light trading volume has created volatile markets in recent weeks, traders said.

The nearby May canola contract added $4.70 to end at $1,141.40 per tonne.

May-July canola spread traded 1,581 times. Chicago Board of Trade soybean futures, Malaysian palm oil futures eased, while Euronext May rapeseed futures firmed.

Traders are starting to look ahead to spring seeding in a few weeks, watching drought conditions for signs of improvement.