CHICAGO: ICE canola futures climbed on Monday as hot, dry temperatures across the Canadian Prairies continued to damage crops and limit production, traders said.
Canola futures briefly traded limit up $45 per tonne during early trading, fueled by persistent drought conditions.
Trading volumes are light, as few traders are willing to sell in current market conditions, one analyst said.
Most-active November canola gained $45, a 5.3% climb, to $889 per tonne, a new contract high.
Euronext November rapeseed futures rose, while Malaysian September palm oil futures fell.
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