ICE Canadian canola futures rose on Tuesday for a second straight day, following soyabeans higher on concerns about dry Argentine weather in soy-growing areas. Lack of export demand kept canola's gains in check, a trader said. March canola added $2.10 at $498.30 per tonne. May canola climbed $1.70 to $504.90 per tonne. March-May canola spread traded 5,212 times.
Chicago March soyabeans climbed due to dry Argentina weather and short-covering. NYSE MATIF May rapeseed rose and Malaysian April crude palm oil dipped. The Canadian dollar was trading at $1.2323 to the US dollar, or 81.15 US cents at 1:14 p.m. CST (1914 GMT).