WINNIPEG, (Manitoba): ICE canola futures rose on Thursday in a volatile session, extending their winning streak to five days.
Canola prices were underpinned by dry Canadian Prairie conditions, but some areas have received recent rain, a broker said, adding: “volatility straight ahead.”
Most-active November canola gained 70 cents to $738.60 per tonne.
In the Canadian province of Saskatchewan, more rain is needed, but 70% of oilseed crops are at normal stage of development, the provincial government said.
November-January canola spread traded 1,732 times.
Chicago Board of Trade corn, soybean and wheat futures fell, pressured by rain in key growing areas of the US Midwest.
Euronext November rapeseed futures and Malaysian September palm oil futures dipped. Statistics Canada is scheduled to report on crop plantings on Tuesday.
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