WINNIPEG, (Manitoba): ICE canola futures rose on Wednesday, supported by technical buying and stronger rapeseed prices.

March canola’s improving technicals attracted short-covering by funds, but the market is in a “pre-holiday mode,” with minimal selling by farmers and light trading volumes, a trader said. Most-active March canola gained $3.20 to settle at $857.40 per tonne.

January-March canola spread, the most active inter-month spread, traded 1,850 times.

Euronext February rapeseed futures jumped 3%. US soybean futures edged higher, supported by dry conditions in South America.