WINNIPEG, (Manitoba): ICE canola futures rose on Tuesday to a three-month high, following US soybean gains from the previous session and dry conditions on the Canadian Prairies.
Chicago soybeans had rallied on Monday while canola was not trading due to a Canadian holiday, following a low plantings estimate from the US Department of Agriculture on Friday. Most-active November canola gained $3 to settle at $739.40 per metric ton.
US markets were closed Tuesday for Independence Day. November-January canola spread, the most active inter-month spread, traded 2,689 times. Euronext November rapeseed futures dipped.
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