Canadian canola futures rise

OTTAWA: ICE Canadian canola futures edged up on Thursday. Canola futures showed modest gains, helped by improvements in the soy complex, including soy oil, an analyst said, but its gains were somewhat muted given weakness in the Canadian dollar. Most active November canola gained $1.40 to $479.40 per tonne.

November-January canola spread traded 1,559 times. The Canadian dollar was trading 0.5% lower at 1.3575 to the US greenback, or 73.66 US cents. Warm weather and rainfall continued to support crop development, with 70% of the oilseed crops at a normal stage of development for this time of year, the Canadian province of Saskatchewan said in its weekly crop report. U.S soyabean futures rose on Thursday for a third straight session as top global soy buyer China booked more US supplies of the oilseed, traders said.