ICE Canadian canola futures rose on Tuesday for the third time in four sessions, helped by limited selling by farmers. Slow farmer sales have resulted in a lack of commercial hedges to offset them on the futures market, allowing prices to rise in thin volumes, a trader said. Weaker soyaoil prices were seen pressuring crush margins and discouraging crushers from buying. May canola added $2.10 to $519.80 per tonne. The May-July canola spread traded 1,593 times. Chicago May soyabeans climbed on technical buying.
NYSE MATIF May rapeseed eased and Malaysian May crude palm oil rose. The Canadian dollar traded at $1.3075 to the US dollar, or 76.48 US cents, at 1:03 pm CDT (1803 GMT).
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