ICE Canadian canola futures rose on Tuesday for a second straight session, as the market turned its attention to excessively wet conditions for some Western Canadian crops. Manitoba and Saskatchewan crops suffered major damage in heavy rains earlier this month, but the market had until recently focused more on prospects for a big US soy harvest, traders said. Manitoba crops are recovering in better weather, but damage remains evident, the provincial government said. November canola added $2.10 to $445.50 per tonne.
March-May spread was most active, and widened to a March premium of $4.10. Chicago Board of Trade November soybeans ended flat at US $10.86-1/4 per bushel. December soybean oil edged up 0.01 US cent to 37.11 US cents per lb. Malaysian September palm oil dropped 2.1 percent. NYSE Liffe Paris August rapeseed lost 0.5 percent. Canadian dollar was trading at $1.0759 or 92.95 US cents at 1:26 pm CDT (1826 GMT), down from Monday's close at $1.0715 to the greenback, or 93.33 US cents.
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