Canadian canola futures rise

ICE Canadian canola futures rose on Thursday and halted a five-day skid, following US soyabeans and soyaoil higher. Strong Chinese demand and the fact that favourable rains missed some US Midwest growing regions, buoyed soyabeans, spilling over support to fellow oilseed canola. The light trading volume kept canola technical sellers on the sidelines, allowing the market to rise, a trader said.
November canola gained $7.30 to $500 per tonne. November-January canola spread traded 815 times. Chicago Board of Trade November soyabeans rose on strong Chinese demand. NYSE MATIF November rapeseed and Malaysian October palm oil gained ground. The Canadian dollar was trading at $1.2651 to the US dollar, or 79.05 US cents at 1:09 pm CDT (1809 GMT).