ICE Canadian canola futures rose on Tuesday, bumped on news of talks between Canada and China aimed at sustaining canola trade. Canada and China are in talks to ensure limited Canadian canola seed exports continue even as a year-long trade dispute remained.
May canola tacked on $1.30 to $468.80 per tonne, touching a two-month high for the nearby contract. May-July canola spread traded 9,295 times.
US soyabean futures rose, while corn eased after government estimates of higher than expected US plantings. Euronext May rapeseed futures and Malaysian June palm oil futures dipped.
The Canadian dollar edged higher against its US counterpart as oil prices rose and domestic data showed the economy grew in January, but the loonie was on track for its biggest monthly decline in more than five years.