ICE Canadian canola futures rose to a four-week high on Monday, supported by spillover strength from the US soyabean market, traders said. The benchmark January canola contract peaked at $485.00, its highest since November 5. Farmer selling remained slow despite the gains, a trader said.
January canola added $2.30 to close at $481.70. The March canola contract was $2.20 higher at $488.70. Chicago January soyabeans rose 1.1 percent on hopes that renewed trade talks between Washington and Beijing could restart US soyabean shipments to the world's top importer.
February Paris Matif rapeseed futures and Malaysian February palm oil futures fell. The Canadian dollar strengthened to its highest in nearly two weeks against its US counterpart on Monday.
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