WINNIPEG, (Manitoba): ICE canola futures rose on Monday, lifted by strength in rapeseed and a technical bounce. Some funds are unwinding short positions, boosting canola, a trader said.
Concerns about late planting in parts of the Canadian Prairies due to cold weather added support, a second trader said, adding the concerns seemed premature. May canola gained $2.60 to settle at $774 per tonne. May-July canola spread, the most active inter-month spread, traded 6,776 times. Chicago Board of Trade soybean futures slid as warm and dry weather cleared the way for planting in the United States.
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